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Exploration tax victory for Teck in British Columbia
Image from Galore Creek Mining.
Teck Resources (TSX:TECK.B) is entitled to claim 100% of its exploration expenses on the Galore Creek mine development project and apply it to another one of its mines for tax purposes, the British Columbia Supreme Court has ruled.
The dispute over how much of its exploration expenses Teck could claim arose when the BC Ministry of Finance determined Teck was eligible to claim only 50% of its exploration expenses on Galore Creek because it was not the sole owner.
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