Critical Minerals Processing Investment Incentive (CMPII)
CMPII offers transferable Crown royalty/freehold production tax credits for qualified greenfield or brownfield value-added processing projects at a rate of 15 per cent of eligible program costs. CMPII is open to value-added processing projects across all segments of Saskatchewan's aluminum, cobalt, copper, gallium, helium, lithium, magnesium, natural graphite, nickel, rare earth elements and zinc industries.
Offered by Ministry of Energy and Resources
Amount
Transferable Crown royalty/freehold production tax credits at a rate of 15 per cent of eligible program costs, with a project-specific awarded credit cap of CAD$75 million (a maximum of up to CAD$500 million in recognized eligible costs per project)
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Who can apply
CMPII is open to value-added processing projects across all segments of Saskatchewan's aluminum, cobalt, copper, gallium, helium, lithium, magnesium, natural graphite, nickel, rare earth elements and zinc industries.
In order for a project to be eligible for CMPII it:
- must be an eligible value-added project for one or more of the 11 specified emerging critical minerals;
- must result in a significant increase to processing capacity (for brownfield projects);
- must include at least CAD$10 million in eligible costs;
- must not have become operational before the eligible project application is submitted.
About the funding
CMPII offers transferable Crown royalty/freehold production tax credits for qualified greenfield or brownfield value-added processing projects at a rate of 15 per cent of eligible program costs.
- The credits are fully transferable which gives non-producers/non-royalty payers an opportunity to benefit from the program. CMPII encourages multi-company projects, as eligible costs can be incurred by a firm other than the principal applicant.
- CMPII has a project-specific awarded credit cap of CAD$75 million (i.e., a maximum of up to CAD$500 million in recognized eligible costs per project).
- Credits can be claimed at a rate of 20 per cent of total credits in the first calendar year of operations, 30 per cent in the second calendar year and 50 per cent in the third calendar year.
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- CMPII can be used alongside other incentive and grant programs available in Saskatchewan.
Costs incurred from April 1, 2024, onward may be recognized as eligible (January 1, 2018, in the cases of helium and lithium).
Similar programs
| Program | Type | Amount | Status |
|---|---|---|---|
| Saskatchewan Critical Minerals Innovation Incentive (SCMII) | Tax Credit | Transferable royalty credits at a rate of 25 per cent of eligible project costs, with a project-specific awarded credit cap of CAD$5 million (i.e., a maximum of up to CAD$20 million in recognized eligible costs per project) | Open |
| Canadian Film or Video Production Tax Credit (CPTC) | Tax Credit | Fully refundable tax credit at 25% of the qualified labour expenditure (labour capped at 60% of total production cost net of assistance), so a maximum of 15% of the total cost of production net of assistance, per production | Open |
| Canadian Journalism Labour Tax Credit | Tax Credit | Refundable tax credit of 35% (January 1, 2023 to December 31, 2026 | Open |
| Film or Video Production Services Tax Credit | Tax Credit | Refundable tax credit of 16% of the qualified Canadian labour expenditure incurred for the accredited production | Open |
