{"id":15859,"date":"2019-08-08T07:15:15","date_gmt":"2019-08-08T14:15:15","guid":{"rendered":"https:\/\/www.vanadiumcorp.com\/?p=15859"},"modified":"2020-12-15T11:34:35","modified_gmt":"2020-12-15T19:34:35","slug":"vanadiumcorp-receives-mining-tax-credits","status":"publish","type":"post","link":"https:\/\/www.vanadiumcorp.com\/releases\/vanadiumcorp-receives-mining-tax-credits\/","title":{"rendered":"VanadiumCorp Receives Mining Tax Credits"},"content":{"rendered":"
Download PDF…<\/strong><\/a><\/p>\n VANCOUVER, BRITISH COLUMBIA<\/strong> \u2013 August 8, 2019, VanadiumCorp Resource Inc. (TSX-V \u201cVRB\u201d) (the “Company”) is pleased to announce it has received $556,117.00 CDN from the Province of Quebec on a positive decision regarding files dating back to 2002. The Company will use the funds to further develop its mining assets and the VanadiumCorp Electrochem Process Technology (VEPT).<\/p>\n The government of Quebec supports mineral exploration within its borders with a tax credit system that refunds expenses for eligible companies. Soci\u00e9t\u00e9 Plan Nord and other branches of the Quebec government have also played an integral role in advancing the adjacent vanadium, titanium, magnetite mining project in the region.<\/p>\n From the Province of Quebec<\/strong><\/p>\n Qu\u00e9bec has significant mining potential that accounts for one-fifth of Canada\u2019s mineral production. The province produces and beneficiates 15 metals and 14 non-metallic minerals, making it the most diverse resource base in Canada. This diversification is set to increase with the arrival of tantalum, vanadium, and apatite mining projects.<\/p>\n Qu\u00e9bec is strategically located above the Northeastern United States. It is close to major population and industrial centers and has easy access to Europe and Asia thanks to its deepwater ports. Qu\u00e9bec also works closely with associations that represent the mining sector and with host communities. The latter are natural project partners and work with the government to develop the mining sector and promote it while respecting the principles of sustainable development. The results of the Fraser Institute\u2019s most recent survey are indicative of the interest Qu\u00e9bec has generated among mining investors. The province was ranked the 6th most attractive region in the world according to the mining and exploration companies surveyed.<\/p>\n Qu\u00e9bec has one of the friendliest business climates for mining investments. Under the Mining Tax Act, Qu\u00e9bec\u2019s tax regime includes various measures to support companies in different phases of the mining cycle, including:<\/p>\n The Act also helps stimulate mining in Qu\u00e9bec, including on Plan Nord territory, through:<\/p>\n The mining tax system also facilitates the processing and transformation of extracted mineral substances. For example, companies can get an allowance to acquire assets used in ore processing. The allowance is a percentage of the cost of the items and is determined based on the nature of the processing activity. This percentage is one of the most advantageous in Canada.<\/p>\n VanadiumCorp Resource Inc. <\/strong>is an integrated technology and mining company focused on developing the exclusive supply chain for vanadium based energy storage and emerging technologies that utilize vanadium. VanadiumCorp is focused on commercializing the most efficient and sustainable recovery method to produce vanadium with jointly developed process technology. VanadiumCorp also holds a significant vanadium-titanium-iron bearing resource base in mining friendly Quebec, Canada including the 100% owned Lac Dore Project adjacent to Blackrock Metals Inc. and the 100% owned Iron-T Project near the Glencore (Bracemac-McLeod) Matagami Copper-Zinc Mine.<\/p>\n On behalf of the board of VanadiumCorp:<\/strong> For more informatio<\/u><\/strong>n:<\/strong>\n
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\nAdriaan Bakker<\/em>
\nPresident and Chief Executive Officer<\/p>\n
\nAdriaan Bakker,
\nPresident and CEO, VanadiumCorp Resource Inc. (TSX-V: \u201cVRB\u201d)
\nBy phone: 1-604-385-4489
\nBy email: moc.procmuidanav