Capital Spending Tables Incomplete
In your article “Report on capital spending by Canadian miners” [CMJ August-September, 2004], I agree with your comment that capital spending in the mining sector, at least for Quebec, does not represent a complete picture. To help you obtain a more complete picture, I suggest the following website: http://mmsd1.mms.nrcan.gc.ca/mmsd/ minstatistics_e.asp.
In August, The Ministry of Natural Resources, Wildlife and Parks of Qubec, in conjunction with Natural Resources Canada, completed its 2003-04 (intentions) mineral survey for Quebec. The 2003 total investment is $743 million including $115 million for exploration & deposit appraisal off mine site; $19 million for exploration & deposit appraisal on mine site; $335 million for mine complex development; $268 million for non-capitalized repairs; and $6 million for repairs & fixed assets off mine site. The 2004 intentions are $156 million for exploration & deposit appraisal off mine site; $17 million for exploration & deposit appraisal on mine site: and $268 million for mine complex development.
Raymond Beullac, senior mining investment officer Quebec Ministry of Natural Resources, Wildlife & Parks Charlesbourg, Que.
The intention of this survey was not to duplicate the work that the government does. Our tables give details about individual companies and projects. – Ed.