Latest news with #ProspectorsandDevelopersAssociationofCanada
USA Today
06-03-2025
- Business
- USA Today
Canadian province leader threatens to cut off energy to 3 US states, imposes 25% surcharge
Canadian province leader threatens to cut off energy to 3 US states, imposes 25% surcharge Show Caption Hide Caption Mexico, Canada tariffs most likely to impact Americans After a brief pause, President Donald Trump announced Mexico and Canada tariffs back on for early March, which could ultimately impact Americans. The head of the Canadian province of Ontario has repeatedly promised strong retaliation against the U.S. tariffs going into effect against Canadian goods, ensuring "America feels the pain." President Donald Trump announced Monday the delay on tariffs against Mexico and Canada was over, and thus a 25% tax on most imports from the trade partners went into effect after midnight. Ontario Premier Doug Ford, leader of the Progressive Conservative Party of Ontario, said at a press conference Tuesday he would apply a 25% surcharge on energy exports to New York, Michigan and Minnesota and would consider restricting the electricity exports down the line if the tariffs persist. He repeatedly placed the blame solely at Trump's feet. "A tariff on Canada is a tax on Americans," Ford said at the Prospectors and Developers Association of Canada convention Monday. "I will do everything, including cut off their energy with a smile on my face. And I encourage every other province to do the same." Ontario is Canada's second-largest energy producer, with most of its power coming from uranium. The province has interconnections with the provinces Manitoba and Quebec as well as three U.S. states: Michigan, Minnesota, and New York. Most of its imports come from Quebec and most of its exports go to New York and Michigan, according to the Canada Energy Regulator website. The tax would not begin immediately on Tuesday, a Ford representative told Bloomberg. What the Trump administration means for your wallet: Sign up for USA TODAY's Daily Money newsletter. What are tariffs? Here's why they could make beer, books and coffee more expensive Canada enacted retaliatory tariffs: Alcohol, internet imports impacted in Ontario Canada and the U.S. have enjoyed a mostly tariff-free relationship for decades. While most imports from Canada are now taxed at 25%, energy is taxed at 10%. Canadian Prime Minister Justin Trudeau announced Tuesday Canada would respond with 25% tariffs on $20.7 billion worth of U.S. imports, effective immediately. That will escalate to another $86.2 billion worth of imports if Trump's tariffs are still in effect in three weeks. Ford said he supported Trudeau's tariffs Tuesday. He also announced he was removing American alcohol products from distribution and had canceled Ontario's contract with Elon Musk's satellite internet service Starlink. "There's going to be unemployment, inflation is going to hit and it's going to hurt the American people," Ford said Tuesday. "You need to speak up against Donald Trump and speak up for your people. That's what we do here in Canada." Contributing: Kim Hjelmgaard Kinsey Crowley is a trending news reporter at USA TODAY. Reach her at kcrowley@ and follow her on X and TikTok @kinseycrowley.
Yahoo
05-03-2025
- Business
- Yahoo
Canadian province leader threatens to cut off energy to 3 US states, imposes 25% surcharge
The head of the Canadian province of Ontario has repeatedly promised strong retaliation against the U.S. tariffs going into effect against Canadian goods, ensuring "America feels the pain." President Donald Trump announced Monday the delay on tariffs against Mexico and Canada was over, and thus a 25% tax on most imports from the trade partners went into effect after midnight. Ontario Premier Doug Ford, leader of the Progressive Conservative Party of Ontario, said at a press conference Tuesday he would apply a 25% surcharge on energy exports to New York, Michigan and Minnesota and would consider restricting the electricity exports down the line if the tariffs persist. He repeatedly placed the blame solely at Trump's feet. "A tariff on Canada is a tax on Americans," Ford said at the Prospectors and Developers Association of Canada convention Monday. "I will do everything, including cut off their energy with a smile on my face. And I encourage every other province to do the same." Ontario is Canada's second-largest energy producer, with most of its power coming from uranium. The province has interconnections with the provinces Manitoba and Quebec as well as three U.S. states: Michigan, Minnesota, and New York. Most of its imports come from Quebec and most of its exports go to New York and Michigan, according to the Canada Energy Regulator website. The tax would not begin immediately on Tuesday, a Ford representative told Bloomberg. What are tariffs? Here's why they could make beer, books and coffee more expensive Canada and the U.S. have enjoyed a mostly tariff-free relationship for decades. While most imports from Canada are now taxed at 25%, energy is taxed at 10%. Canadian Prime Minister Justin Trudeau announced Tuesday Canada would respond with 25% tariffs on $20.7 billion worth of U.S. imports, effective immediately. That will escalate to another $86.2 billion worth of imports if Trump's tariffs are still in effect in three weeks. Ford said he supported Trudeau's tariffs Tuesday. He also announced he was removing American alcohol products from distribution and had canceled Ontario's contract with Elon Musk's satellite internet service Starlink. "There's going to be unemployment, inflation is going to hit and it's going to hurt the American people," Ford said Tuesday. "You need to speak up against Donald Trump and speak up for your people. That's what we do here in Canada." Contributing: Kim Hjelmgaard Kinsey Crowley is a trending news reporter at USA TODAY. Reach her at kcrowley@ and follow her on X and TikTok @kinseycrowley. This article originally appeared on USA TODAY: Ontario Premier Doug Ford threatens to cut energy to 3 US states
CBC
04-03-2025
- Business
- CBC
First Nations near Timmins to build infrastructure for new Crawford mining project
Canada Nickel is still waiting on some government approvals to launch its promising Crawford mining project near Timmins, but it's already picked who will help build some of the needed infrastructure. Mattagami, Matachewan and Flying Post will have first dibs on contracts to build a railway line and a temporary highway overpass. Companies from those communities will also be given preferential access to do the work required to relocate part of Highway 655 to make way for the new mine. The agreement was announced on the second day of the annual Prospectors and Developers Association of Canada (PDAC) convention, which focused heavily on First Nation participation in mining. Ontario's Minister of Mines, George Pirie, was present at the announcement, and said agreements like this "pave the way" for other mining projects looking to partner with Indigenous communities. "Ensuring everyone shares the wealth that our resources sector generates is key to Ontario's economic reconciliation with Indigenous people," he said. Canada Nickel CEO Mark Selby says the company hasn't yet reached an official impact benefits agreement with the First Nations near the mining project. "[But] this contracting agreement ensures that meaningful opportunities for First Nations start now," he said. Mattagami, Matachewan and Flying Post are all members of the Wabun tribal council. Playing a 'central role' in resource development The organization's mineral development advisor Nicole Charbonneau says this agreement builds on a history of good relationships between the three First Nations and Canada Nickel. "But to us, that award wasn't just about past successes," she said. "It was a challenge to keep setting the bar even higher. And that's exactly what this agreement represents. Another step forward, another opportunity to ensure our nations play a central role, not just in the workforce, but in shaping the future of resource development on our lands." Matachewan First Nation chief Sonny Batisse said the project is set to benefit everyone generally. "It means jobs, business opportunities, economic partnerships and [First Nations] having a say on how this project moves forward," he said. Canada Nickel says it's on track to receive its federal permits by the end of the year, and hopes to launch the Crawford project soon after. If successful, the beginning of this new mine would be a boon for Timmins' economy, which could be hurt by the planned closure of the prolific Kidd Creek Mine in 2026. On Monday, leadership with the Wabun Tribal Council and the Chiefs of Ontario also seized the opportunity to speak to the industry at PDAC. They urged mining companies not to deal with the Métis Nation of Ontario (MNO), and instead focus on agreements with First Nations.
CBC
04-03-2025
- Business
- CBC
Doug Ford uses mining conference speech to push for fast-tracking critical mineral extraction
Ontario Premier Doug Ford reiterated his promise Monday to speed up mineral extraction in the Ring of Fire, but advocates for First Nations say it can't happen at the expense of Indigenous treaty rights. Ford told an audience at the Prospectors and Developers Association of Canada (PDAC) conference that U.S. President Donald Trump's tariffs take aim at the Ontario economy, and Ontario needs to prepare for "anything and everything." "Together we need to build a stronger, more resilient and self-sufficient economy," Ford said. "Together we need to build the most competitive economy in the G7 to invest, create jobs and do business." Ford didn't make any new announcements at the conference but instead repeated his campaign promises to streamline resource development approvals and create special zones in which critical minerals projects can be fast-tracked. He also reiterated his pledge to add $70 million to the Aboriginal Participation Fund, which helps First Nations assess and take advantage of resource projects. Ford promised to relaunch the Aboriginal Loan Guarantee Program as a $3 billion First Nations Opportunities Financing Program. But the Nishnawbe Aski Nation has said that investment does not equate to consent, and industry partners will only experience predictability and certainty when First Nations are true partners in decision-making. 'These are not Ontario's minerals' "Premier Ford's promise to 'unlock' the Ring of Fire and fast-track development is a direct attack on the inherent, treaty and Aboriginal rights of First Nations who have governed and stewarded these lands since time immemorial," said Grand Chief Alvin Fiddler in a news release issued Feb. 25. "These are not 'Ontario's minerals'; they exist within our territories … The unilateral will of the day's government will not dictate the speed of development on our lands, and continuing to disregard our legal rights serves to reinforce the colonial and racist approach that we have always had to fight against." Reporters asked Ford if his promise to speed up mineral extraction meant he would cut short the environmental assessment process in the Ring of Fire, which First Nations are involved in. He replied by saying, "We're going to sit down with them and have a great conversation." Ford placed some of the blame for project delays on the federal government, calling its impact assessment process redundant and wrongheaded and saying, "We cannot afford to add years and years of delays, massive costs to critical mineral projects so that the federal government can waste time repeating and replicating assessments that Ontario has already done." But a professor at Osgoode Hall Law School who has worked with First Nations in the Ring of Fire called the comments disingenuous. The federal and provincial impact assessments have already been occurring jointly and are not holding each other up, Dayna Scott said. "On the regional assessment, it is additional to what would be required in Ontario, so maybe it makes a little more sense for Premier Ford to be complaining about that additional lawyer of investigation," Dayna Scott said, referring to a larger study co-led by the federal government and First Nations. "But it's also true that the regional assessment is not holding up any approvals." Scott said the government's signal to First Nations that they should "just get out of the way so we can get this stuff done" is not helping build trusting relationships. "Even, you know, amongst the proponent community in the PDAC session, you could hear a bit of that same sentiment that those kinds of attitudes and remarks are really not helping anything," she said.
Yahoo
03-03-2025
- Business
- Yahoo
Canada to extend mineral exploration tax credit to boost mining sector
The Canadian Government has announced plans to extend the mineral exploration tax credit for two additional years to support the country's mining sector, reported Reuters. The capital market mechanism provides investors with a 15% tax credit for investing in flow-through shares of smaller mining companies. It was due to expire on 31 March but will now provide continued support for capital-raising in exploration projects. Natural Resources Minister Jonathan Wilkinson confirmed the extension as a strategic measure to ensure the mining sector has the necessary tools to raise capital. The extension is also seen as a way to offer companies an alternative to Chinese capital amidst Canada's stringent stance on investments from Chinese state-owned enterprises. Wilkinson said in an interview: 'There was some degree of anxiety on the part of the sector, especially the juniors, whether it was going to be renewed.' The extension is expected to inject C$110m into the sector, supporting mineral exploration investment. The announcement is set to be made at the annual Prospectors and Developers Association of Canada conference in Toronto, a key mining industry event. It comes amid concerns over potential trade tensions in North America, with US President Donald Trump threatening to impose a 25% tariff on most Canadian goods. Canada is also preparing for potential export controls on critical minerals from China, with Wilkinson highlighting Canada's offer of a secure supply of minerals such as germanium and gallium to the US. In anticipation of possible tariffs from the US, Canada has prepared retaliatory measures and is considering future tariffs on commodities such as zinc, copper and nickel. Amidst these developments, industry leaders are calling for more government support. BHP CEO Mike Henry expressed concerns over Canada's declining competitiveness in mining, citing the need for faster permitting processes. Henry emphasised the importance of continual improvement, despite BHP's positive experiences in Canada, including the development of a significant potash mine in Saskatchewan. "Canada to extend mineral exploration tax credit to boost mining sector" was originally created and published by Mining Technology, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Sign in to access your portfolio
