The federal budget has been tabled in Ottawa, and it has one proposed item that is generating optimism in Newfoundland and Labrador’s mining sector.

Prime Minister Mark Carney’s budget proposes to expand eligibility on the critical mineral exploration tax credit to include 12 additional minerals, including manganese and fluorspar.

That could have positive financial implications for two companies in the province.

Singapore-based AMED Funds is looking to revive the fluorspar mining industry on Newfoundland's Burin Peninsula, and there’s Wabush-based Tacora Resources.

“This is a very exciting time in the mining industry,” Tacora general manager of stakeholder relations, Graham Letto, told CBC News.

“There's lots of new developments, lots of new prospects, lots of new opportunities in

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