Canadian Mining Journal

News

FUNDING: Feds earmark $100M for GEM program

TORONTO – As Prime Minister Stephen Harper tours Canada's north, he announced significant  new support for geo-mapping the area to promote resource exploration and development. The Geo-Mapping for Energy and Minerals (GEM) program...



TORONTO – As Prime Minister Stephen Harper tours Canada’s north, he announced significant  new support for geo-mapping the area to promote resource exploration and development. The Geo-Mapping for Energy and Minerals (GEM) program will receive $100 million over seven years from the federal government.

To underline the importance of this commitment, the Prospectors and Developers Association of Canada‘s executive director Ross Gallinger said, “Researchers estimate that every dollar invested in basic geological mapping triggers five dollars in exploration spending by the private sector and that every dollar invested in pre-competitive geoscience leads to the discovery of in-ground resources worth between $100 and $150.”

The PDAC estimates that tween 2008 and 2012, eight GEM  mineral projects sparked an investment of $16.7 million in mineral exploration. The program is expected to stimulate over $500 million in exploration spending over the long term.

To learn more about the world’s leading exploration and development advocate, visit PDAC.ca.