Mining Exploration Dollars Double

By 250 News

Prince George, B.C.- Mining exploration spending in B.C. in 2010 was more than double the amount spent in 2009.

$322-million was spent on mineral exploration last year, making 2010 the third highest yearly total in the province’s history and a 109% increase over the $154 million spent in 2009.

Minister of Forests, Mines and Lands Pat Bell says that is a pretty clear indication of the industry moving forward “We are looking forward to 2011 being a much better year yet, and certainly climb up to the point where we could see potentially have a billion plus dollars in exploration in the coming decade.”

The latest report indicates the mining industry invested more than $1 billion last year expanding existing operations and developing new mines in B.C.

Along with the construction and mine development underway at Copper Mountain, New Afton and Mt. Milligan mines in 2010, there were also major mine expansions at Endako, Gibraltar, Highland Valley Copper and Wolverine mines.

Bell says the exploration activity is taking place throughout the province “Certainly northern British Columbia tends to led the way. Tremendous exploration all the way from Williams Lake up into the Kemess region, but also in the highway 37 areas, so very positive numbers this year, some new potential finds and a focus on rare earth minerals which is quite exciting.”

Mining in B.C. is a $6 billion dollar industry with 10 coalmines and 10 metal mines in operation. There are more than 50 thriving industrial minerals mines in B.C. The total number of aggregate and industrial mineral pits and quarries is over 650.

Last year, there were 380 exploration projects active in B.C. At the end of 2010, there were 10 mines in the environmental assessment process, 6 had been approved, another 6 permitted, and waiting to start production. Three others are undergoing major expansion.

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