Exploration initiatives for Quebec investors

"This article discusses how recent changes in the federal and Quebec .income tax laws have contributed to an improved investment climate for mineral exploration in the Province of Quebec. Individual investors who are resident in Quebec and who are in the highest tax bracket (1984-60.4% marginal rate) may obtain tax benefits that result in only nine cents of each invested dollar being at risk.IntroductionIn a recent submission by the Mining Association of Canada to the Royal Commission on the Economic Union, it was stated that the mining industry ""is no longer discovering and opening new mines at rates sufficient to offset the depletion of existing orebodies and to maintain pre sent output"". With world metal prices still in a depressed state following the prolonged 1981-82 recession, moreover, the continuing success of Canadian mining in world markets will depend on this country's ability to compete in a new environment characterized by subsidized Third World production . For the most part, this new competitive environment will encourage the development of cost-efficient mines that are better equipped to withstand the troughs and valleys of international metals prices."