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As Saskatchewan moves forward into more of a leadership role in the mining industry, exploration is rapidly becoming an important expenditure.
Why is exploration such a crucial step in mining? The purpose of exploration is to locate large reserves of high-grade minerals while disturbing the environment as little as possible.
This is being made possible through the implementation of new technologies such as GPS surveying, down-hole seismic imaging and airborne technologies. These tools allow exploration companies to find new deposits that would probably not be found by using traditional methods. As with research and development, exploration is a field that requires strong investment levels in order to achieve long-term success.
According to a 2011 report by the Mining Association of Canada, without sustainable and effective exploration, Canadian mineral production will outstrip reserve additions. This would mean that smelters and refiners across the country would be forced to rely on imported raw materials, placing the domestic mining industry at risk, both competitively and strategically. To sum it up, the value-added aspects of the mining industry would diminish over time, causing national and regional economies to suffer.
Fortunately, in spite of the recent economic downturn, exploration investment in our country is high.
In fact, Canada continues to remain the world’s top destination for mineral exploration. Over the past five years, the Toronto Stock Exchange handled 83 per cent of the world’s public mining financings.
For the rest of this article, please go to the Regina Leader-Post website: http://www.leaderpost.com/Exploration+leads+mining+future/6648190/story.html