Canadian expenditures impressive

Project operators spent more than $1 billion in 2004 on exploration and deposit appraisals in Canada, for the first time since 1997. The preliminary expenditures reported by 653 project operators increased nearly 60%, reaching $1,091 million in 2004 compared with $687 million in 2003. A further 3% increase to $1,128 billion (in current dollars) is expected in 2005.

These are some of the many useful facts, statistics, tables and graphs in “Overview of Trends in Canadian Mineral Exploration 2004” published by the Canadian Intergovernmental Working Group on the Mineral Industry.

The top four locales–Ontario, Quebec, Nunavut and British Columbia (in decreasing order of spending)–accounted for 74% of the total spending in 2004. Most of the growth occurred in off-mine-site exploration work, which reached $749 million.

Precious metals accounted for an estimated $506 million of the spending in 2004, followed by diamonds (about $270 million), base metals ($209 million) and uranium (about $65 million). About half the total spending ($531 million) is by junior companies and half by seniors, with juniors dominated in exploration spending and seniors accounting for most of the deposit appraisal spending.

To get your own copy of the 161-page book in French or English at no charge, telephone 613-995-4577. The report is also available online at www.nrcan.gc.ca/mms/pubs/explo_e.htm.