Critical Mineral Exploration Tax Credit (CMETC)

The Canadian National Budget 2022 provides up to $3.8 billion in support to implement Canada’s first Critical Minerals Strategy, including a new 30% Critical Mineral Exploration Tax Credit (CMETC) for certain exploration expenditures targeted at nickel, lithium, cobalt, graphite, copper, rare earths elements, vanadium, tellurium, gallium, scandium, titanium, magnesium, zinc, platinum group metals, or uranium, and renounced to flow-through share investors after April 7, 2022 and on or before April 1, 2027. 

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