Mining Exploration Hits All-Time High

By 250 News

There is a 'rush' on in the province when it comes to mineral exploration activity.

Minister Responsible, Kevin Krueger, says 2007 figures surpassed the record set the year before and climbed to an all-time high of nearly $416-million dollars.

"Investment in exploration spending is up 57-percent over that of 2006 and over 1,300-percent from when we took office in 2001," says Krueger.  "With 472 exploration stage projects across the province, British Columbia is steadily gaining a greater share of Canada's exploration activity, providing a tremendous boost to local economies."

Four new mines opened last year, 23 new mine development proposals were in the works for 13 metal mines, seven coal mines, and three industrial mineral mines.

"These numbers are a clear indication of industry's confidence in B.C.'s mining potential," says Mike McPhie, president and CEO of the Mining Association of B.C..

The projects breakdown as follows:

REGION: Northwest B.C.
# of PROJECTS: 144
EXPENDITURE($M): 170.2

REGION: Northeast B.C.
# of PROJECTS: 10
EXPENDITURE($M): 10.5

REGION: Central B.C.
# of PROJECTS: 88
EXPENDITURE($M): 94.6

REGION: South Central B.C.
# of PROJECTS: 119
EXPENDITURE($M): 84.4

REGION: Southeast B.C.
# of PROJECTS: 78
EXPENDITURE($M): 43

REGION: Southwest B.C.
# of PROJECTS: 33
EXPENDITURE($M): 13

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