Miners handed tax break

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 is working on a policy to allow mining companies to defer electricity costs until mineral prices rebound.