Yes, thank you, David, for that question.
Of course, the mining sector is a key part of our economic recovery. A lot of projects are in pipelines up north. I sat down with these guys, and there are some tools we can provide to them that are very useful. Basically, as you know from our last budget, we are extending the mineral exploration tax credit and extending the accelerated capital cost allowance for machinery and equipment. This is a measure that gives them tremendous opportunity for investment to accelerate and create new jobs and to have some new projects going on.
There were two that had been renewed, and we're speaking here about the geo-mapping and the geo-science. Geo-science is a great thing because they can look deeper now, and a lot of research can be done, but sometimes the risk is a little bit high. We as the government can support the industry on that to go and look deeper. These kinds of investments are very worthwhile.
I want to point out that in the targeted geo-science initiative, every dollar spent on geo-mapping leads to $5 in private sector investment in exploration spending and $125 in discovered resources of value, approximately. So it means that for dollar, it generates a lot of what I would call downstream economies.
These are the three main great-news stories about the initiatives themselves. Also, I must point out that we are still working on our road map to have regulatory framework reform, which is needed because the evaluations of the projects are too complex. You can have duplications and things like that, so we want to optimize to make sure that, yes, we have less complex evaluations to do. Doing that, too, I think we will be more able to focus on the environmental assessment itself to make sure that we are speaking about the environmental assessment and how to do it, because now it's getting complex. It will give a lot of certainty to the industry, too. We will now be more able to see the projects coming, and to optimize and streamline the entire process itself.