Canada leads exploration spending for past 10 years

Figures just released by the Metals Economics Group’s (MEG) Corporate Exploration Strategies (CES) of Halifax, indicate that Canada has been the world’s top country for exploration for the past decade.

According to MEG, Canada’s allocation for 2011 represents 18% of worldwide spending, which includes expenditures for precious and base metals, diamonds, uranium, and some industrial minerals.

“Three provinces (Ontario, Quebec, and British Columbia) accounted for more than 60 per cent of the $3.1 billion in planned Canadian nonferrous exploration spending in 2011,” said Jason Goulden, MEG’s Vice President of Research.

Gouldsen added that: “Worldwide, Canadian-based companies accounted for more than half of the 2,400 plus active explorers, each with a budget of at least $100,000, covered by the 2011 edition of CES, and together accounted for 40 per cent of the $17.25 billion budgeted by all companies for nonferrous exploration in 2011.”