Regulatory overhaul underway: Oliver

The federal government is taking steps to modernize the regulatory system around mining and resource exploration in this country, Canada’s natural resources minister told industry players from around the world Monday.

Delivering a speech at the Prospectors and Developers Association of Canada convention in Toronto, Joe Oliver said Canada’s “stage is set” for success in exploration and mining.

Oliver said this country has a stable economy, a “favourable” tax regime, is a leader in technological innovation and is investing in geoscience.

The annual international convention and trade show brings together international players from the mineral industry.

“There is no question that regulatory modernization will have a positive impact on the people in this room, this city, this province and this country,” Oliver said.

Canada is a great place to invest, Oliver said, and noted that a new study by Natural Resources Canada has found that, for mining in particular, Canada’s tax regimes are the most competitive in the world.

The government is exploring new approaches, Oliver said.

The minister used Teck’s Line Creek coal mine in southeastern British Columbia as an example, noting that the government delegated the environmental assessment of the mine’s expansion to provincial authorities.

“By integrating the federal and provincial processes, we’re eliminating duplication and saving time and money, without compromising the quality of the review,” Oliver said.