Mining Exploration Tax Credit

The mining exploration tax credit (METC) is for eligible corporations, and corporations that are active members of partnerships conducting grassroots mineral exploration in B.C.

An active member of a partnership includes a corporation that is engaged in a business similar to that carried on by the partnership.  Limited partners are not eligible to claim the credit.

The corporation or partnership must incur qualified mining exploration expenses before January 1, 2020 for determining the existence, location, extent or quality of a mineral resource in B.C.

The credit applies to exploration for all base and precious metals, coal and some industrial minerals. Drilling expenses for oil and gas do not qualify.

Exploration expenses may include expenses incurred in the course of prospecting, carrying out geological surveys, trenching, digging test pits or preliminary sampling.

The credit is calculated as 20% of qualified mining exploration expenses less the amount of any assistance received or receivable. Assistance includes reimbursements a taxpayer has received or is entitled to receive, as well as grants, subsidies, rebates and forgivable loans.

Mineral Exploration in Mountain Pine Beetle Affected Areas

An enhanced rate of 30% is available for qualified mineral exploration undertaken in prescribed Mountain Pine Beetle affected areas.

To view a map of the qualifying Mountain Pine Beetle area, see the overview map (PDF), the detailed area maps (PDF) or the Mineral Titles Online site and select Mineral Map or Placer Map. 

Claiming the Credit

You can claim the credit by completing Schedule 421, 
British Columbia Mining Exploration Tax Credit and submitting it
with your T2 Corporation Income Tax Return. Enter the amount of the credit you’re claiming on line 673 of Schedule 5, Tax Calculation Supplementary – Corporations.

To claim a share of a partnership’s tax credit, members of a partnership must also file a completed Schedule T1249, British Columbia Mining Exploration Tax Credit Partnership Schedule.

For tax years ending on or before December 31, 2016, you must claim the credit no later than 36 months after the end of the tax year. For tax years ending on or after January 1, 2017, you must claim the credit no later than 18 months after the end of the tax year. The credit is fully refundable, but must first be applied against total income tax payable. There are no carry-back or carry-forward provisions.


The following legislation applies to the mining exploration tax credit program:

Personal Mining Exploration Tax Credit

See the personal mining exploration tax credit page if you’re an individual looking to claim the credit.

Frequently Asked Questions

Get answers to your questions about the mining exploration tax credit.

Useful Contacts

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