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Canadas Mining Fiscal Regime: H2 2014

Published By :

Timetric

Published Date : Dec 2014

Category :

Mining

No. of Pages : 28 Pages

Synopsis

Timetric's Canadian fiscal regime report covers the governing bodies, laws, mining licenses and rights and tax-related information on 13 commodities: coal, iron ore, copper, lead, zinc, gold, silver, nickel, chromium, manganese, diamond, uranium and platinum.

Executive summary

Canada has abundant natural resources, including iron ore, nickel, zinc, copper, gold, lead, molybdenum, diamond, silver, coal, petroleum and natural gas.The country’s mining industry is governed by several departments and agencies of the provincial government. Canadian provinces have separate governing laws regulating the industry.

Scope

The report outlines Canadian’s governing bodies, laws, mining licenses and rights and obligations and key fiscal terms which include royalty, annual rents, corporate income tax, provincial income tax, branch profit tax, withholding tax, capital gains, goods and service tax / harmonized sales tax (HST), depreciation and other provincial taxes.

Reasons to buy

Gain an overview of Canada's mining fiscal regime.

Key highlights

  • The Coal and Mineral Development Unit of the Department of Energy is responsible for the issuance and administration of exploration and production agreements for Alberta-owned coal. 
  • The Ministry of Energy and Mines and Responsible for Core Review holds the authority for mining activities in British Columbia. The Mining and Minerals Division is accountable for devising and implementing policies, regulations and programs. 
  • The Department of Natural Ressources is accountable for the development, management, conservation and protection of forests, minerals, parks and wildlife resources, and the administration of the province's Crown land.
  • The Ministry of Northern Development and Mines is responsible for the development of mines in northern Ontario. It ensures healthy, competitive and sustainable development of the mineral industry in the province. 
  • The Ministère des Resources naturelles is responsible for providing information on the development and promotion of land and mineral resources in Quebec. It also ensures the development and rational utilization of forestry, mining and mineral resources.
Table of Contents

1 Executive Summary 1

2 The Canadian Mining Industry – Governing Bodies 7
2.1 Alberta 7
2.2 British Columbia, Ministry of Energy, Mines and Responsible for Core Review 7
2.3 Nova Scotia, Department of Natural Resources 7
2.4 Ontario, Ministry of Northern Development and Mines 7
2.5 Quebec, Ministère des Ressources naturelles et de la Faune 7
2.6 Newfoundland and Labrador, Department of Natural Resources 7
2.7 New Brunswick, Ministry of Natural Resources (MNR) 8
2.8 New Brunswick, Ministry of Mines and Energy (MME) 8
2.9 Saskatchewan, Minerals, Lands and Policy Division 8
2.10 Manitoba, Ministry of Mineral Resources 8
2.11 Yukon, Ministry of Energy, Mines, and Resources 8
2.12 Northwest Territories 8
2.13 Northwest Territories (NWT) and Nunavut Chamber of Mines 9

3 The Canadian Mining Industry – Governing Laws 10
3.1 Alberta 10
3.2 British Columbia 10
3.3 Nova Scotia 10
3.4 Ontario 11
3.4.1 Mining Act 11
3.4.2 Mining Tax Act 11
3.5 Quebec 11
3.5.1 Mining Act 11
3.5.2 Mining Tax Act 11
3.6 Newfoundland and Labrador 11
3.6.1 Mineral Act 11
3.6.2 Mineral Holdings Impost Act 11
3.6.3 Mining Act 11
3.6.4 Undeveloped Minerals Areas Act 12
3.6.5 Labrador Inuit Land Claims Agreement Act 12
3.6.6 Revenue Administration Act 12
3.7 New Brunswick 12
3.8 Saskatchewan 12
3.9 Manitoba 12
3.9.1 The Mines and Minerals Act 12
3.9.2 The Mining Tax Act 12
3.10 Yukon 12
3.10.1 Yukon Placer Mining Act 13
3.10.2 Quartz Mining Act 13
3.11 Northwest Territories 13
3.11.1 Territorial Lands Act 13
3.11.2 Territorial Lands Regulations 13
3.12 Nunavut 13

4 The Canadian Mining Industry – Mining Licenses and Rights 14
4.1 Alberta 14
4.1.1 Coal Lease 14
4.1.2 Coal Lease Road Allowance 14
4.2 British Columbia 14
4.2.1 Coal License 14
4.2.2 Coal Lease 14
4.3 New Brunswick 15
4.3.1 Prospecting License 15
4.3.2 Mining Lease 15
4.4 Nova Scotia 15
4.4.1 Mineral exploration – license 15
4.4.2 Mineral exploration – special license 15
4.4.3 Special mining lease 15
4.5 Saskatchewan 16
4.5.1 Permits 16
4.5.2 Lease 16
4.5.3 Licensing process 16
4.5.4 Environmental Assessment (EA) study for mining activities 17

5 The Canadian Mining Industry – Key Fiscal Terms 18
5.1 Royalty 18
5.1.1 Alberta 18
5.1.2 British Columbia 18
5.1.3 Nova Scotia 18
5.1.4 Ontario 18
5.1.5 Quebec 18
5.1.6 Newfoundland and Labrador 18
5.1.7 New Brunswick 18
5.1.8 Saskatchewan 19
5.1.9 Manitoba 19
5.1.10 Yukon 20
5.1.11 NWT and Nunavut 20
5.2 Annual rents 20
5.2.1 Alberta 20
5.2.2 British Columbia 20
5.2.3 New Brunswick 20
5.2.4 Nova Scotia 20
5.2.5 Saskatchewan 20
5.3 Corporate Income Tax 21
5.4 Provincial Income Tax 21
5.4.1 Lower Provincial Income Tax Rates 21
5.4.2 Higher Provincial Income Tax Rates 21
5.5 Branch Profit Tax 21
5.6 Withholding Tax 21
5.7 Capital Gains 22
5.8 Goods and Service Tax / Harmonized Sales Tax (HST) 22
5.9 Depreciation 22
5.10 Other Provincial Taxes 23
5.10.1 British Columbia 23
5.11 Business Loss 23

6 Appendix 24
6.1 What is this Report About? 24
6.2 Methodology 24
6.3 Secondary Research 24
6.4 Primary Research 24
6.5 Contact Timetric 25
6.6 About Timetric 25
6.7 Timetric’s Services 26
6.8 Disclaimer 27

List of Table

Table 1: The Mining Industry in Canada – Fiscal Regime Terms and Other Taxes, 2014 1
Table 2: The Mining Industry in Canada – Alberta Coal Royalty Rates (%), 2014 18
Table 3: The Mining Industry in Canada – Saskatchewan Tiered Royalty (%), 2014 19
Table 4: The Mining Industry in Canada – British Columbia Annual Rent for Coal License (CAD/ha), 2014 20
Table 5: The Mining Industry in Canada – Provincial Corporate Tax Rates (%), 2014 21
Table 6: The Mining Industry in Canada – GST/HST Rates(%), 1997–2014 22
Table 7: The Mining Industry in Canada – Depreciation Rates (%), 2014 22
Table 8: The Mining Industry in Canada – British Columbia Mineral Land Tax Rates (CAD), 2014 23
Table 9: The Mining Industry in Canada – British Columbia Coal Carbon Tax (CAD), 2010–2014 23

List of Chart

Figure 1: The Mining Industry in Canada – Commodity Mines at Different Stages (Number of mines), 2014 1

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