Corporate Mining Incentive Program (MIP)

By mmuise
Description:

The Corporate Mining Incentive Program (MIP) provides funding to exploration companies who propose new exploration projects or are already carrying out NWT mineral exploration work. Application is open to exploration projects from any stage of development from grassroots to advanced projects.


Comments on Funding:

Funding takes the form of grants of up to 60% of eligible expenses to a maximum of $240,000. Eligible expenses refer to the part of a program for which the MIP money is designated, not the overall program budget. This means a program would need to demonstrate $400,000 worth of eligible expenses to qualify for a maximum grant of $240,000.

Deadline: April (annually)
Eligibility:

Applicants must:

  • be companies with the legal right to conduct mineral exploration in the NWT;
  • possess a registered Canadian bank account for the transfer of grant money;
  • only submit proposals for areas in which they have the legal right to conduct exploration (information on staking is available at the Mining Recorder’s Office);
  • propose a well‐conceived and technically‐sound exploration program to be considered for MIP funding. Applications will be evaluated by the expert staff of the Northwest Territories Geological Survey (NTGS) and other divisions of the Department of Industry, Tourism and Investment (ITI);
  • maximize the use of NWT goods and services will be ranked higher than comparable applications that do not provide this benefit to the NWT;
  • have eligible expenses must be incurred during the period April 1, 2023 to March 31, 2024;
  • have responsibility to ensure that the proper permitting is in place and that work programs comply with existing laws and regulations (information on the Mining Regulations is available at the Mining Recorder’s Office);
  • be strongly encouraged to discuss their exploration activities with local communities;
  • be strongly encouraged to design their proposed programs in a manner that is consistent with the highest industry standards for Environmental, Social and Governance (ESG) factors;
  • be prepared at all times to demonstrate compliance with current orders and guidance from the Chief Public Health Officer (CPHO) of the NWT;

    1
  • No project may receive over $500,000 in MIP assistance over the lifespan of the project.
Application Steps:

-

Documentation Needed:

-

Other Things to Note:

The deadline to apply is the last business day in April, each year.

About the author
mmuise