Canada extends mining exploration tax credits to 2032

Canada's Budget 2026 proposes extending the 15 percent Mineral Exploration Tax Credit and the 30 percent Critical Mineral Exploration Tax Credit for five years, to flow-through share agreements entered into on or before March 31, 2032, and adding antimony to the 30 percent credit.

Why it matters: Both credits were due to expire on March 31, 2027, so the extension removes a financing cliff for junior explorers that raise money through flow-through shares, at a costed $956 million over five years.

Data as of Budget 2026 documents published by the Department of Finance Canada and read in full in this run; all figures and terms are the budget's own. The item first surfaced via The Northern Miner, whose article is behind a membership wall, so the story is sourced to the budget itself. Developing item.

Canada’s Budget 2026 proposes to extend the Mineral Exploration Tax Credit and the Critical Mineral Exploration Tax Credit for five years, covering eligible flow-through share agreements entered into on or before March 31, 2032. The first credit is worth 15 percent of specified mineral exploration expenses renounced to flow-through share investors and the second 30 percent of specified critical mineral exploration expenses; both are currently set to expire on March 31, 2027.

The budget also proposes adding antimony to the list of minerals eligible for the 30 percent credit, for expenditures renounced under agreements entered into after budget day and through March 31, 2032. The two extensions are costed at $956 million over five years starting in 2026-27, and the budget separately proposes $424.4 million over four years, starting in 2027-28, to renew the Canadian Critical Minerals Strategy.

Canada extends mining exploration tax credits to 2032

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