Mr. Speaker, mineral exploration is the lifeblood of the Canadian mining industry. Over the last 25 years, the systematic decline in reserves provides clear evidence of the need for a more competitive environment to stimulate greater exploration and development.
In October 2000 the Liberal government introduced the investment tax credit for exploration in Canada. The estimated $1 billion raised by the program has had a significant impact in the economic prosperity of rural and northern regions.
In Sudbury there have been several successful discoveries by junior mineral exploration companies financed through this program: two by FNX Mining and Dynatec Corporation joint venture and one by Wallbridge Mining.
Today, being Mining Day on the Hill, I call upon the government to continue with this program and give assurances to Canadians living in rural and northern regions that they too can enjoy the benefits of a good paying job while living in some of the most beautiful areas of this great country.