B.C. mulls letting mining companies defer power costs until prices rebound

VANCOUVER – British Columbia’s premier has good news for the province’s mining industry, as the sector flounders amid ailing global commodity prices.

Christy Clark announced her government will extend two tax-credit programs while delivering the keynote address at the annual conference into B.C. mineral exploration.

The mining-exploration tax credit is a 20 per cent refundable credit, which increases to 30 per cent for exploration happening in regions affected by the destructive mountain pine beetle.

Also being extended is the mining flow-through tax credit, which is a non-refundable credit of 20 per cent.

Both announcements were met with applause by the several-hundred industry representatives attending the event in Vancouver.

Clark also announced the government was working on a policy to allow mining companies to defer electricity costs until mineral prices rebound.