Budget 2026 backs mining with $2.3 billion 

What the $2.3 billion would fund

MAC said the money would:

• Renew the Canadian Critical Minerals Strategy, covering technology, geoscience and research.
• Extend the Mineral Exploration Tax Credit to March 31, 2032.
• Extend the Critical Mineral Exploration Tax Credit to the same date and add antimony.
• Strengthen domestic supply chains that bring minerals from mine to market.

The strategy renewal totals $424.4 million over four years, starting in 2027-28, NetNewsLedger reported. The same report put the tax-credit measures at about $956 million. Those two items total roughly $1.38 billion. The Mining Association of Canada’s (MAC) $2.3 billion also includes a supply-chain component.

The Mineral Exploration Tax Credit is worth 15%, while the critical-mineral version is worth 30%, one mining analysis said. Both currently expire on March 31, 2027.

Industry reaction

“Budget 2026 sends a strong signal to global investors and Canada’s allies that Canada is committed to strengthening its mining and critical minerals industry,” Pierre Gratton, MAC’s president and CEO, said. “The focus now is execution.” He also called it “an opportunity to expand Indigenous economic participation and strengthen Canada’s role as a trusted supplier of minerals and metals.”

The Prospectors & Developers Association of Canada (PDAC) also welcomed the extensions. “Budget 2026 shows that the federal government recognizes how vital mineral exploration is to Canada’s economic future,” said Karen Rees, PDAC’s president. “Exploration is where new mineral discoveries begin.”