Exploration spending in British Columbia reached C$740-million, surpassing the previous ten-year high of C$681-million seen in 2012, with copper being the driving force behind the record-setting year.
Conversely, the number of projects and total metres drilled decreased by 24% and 20%, respectively, from the previous year as exploration shifted toward earlier stage activities, EY’s seventh yearly British Columbia mineral and coal exploration survey has found.
The survey, conducted by EY, the government of British Columbia’s Ministry of Energy, Mines and Low Carbon Innovation and the Association for Mineral Exploration British Columbia (AME), provides a view of the current state of the mineral and coal exploration sector in British Columbia.
“Last year was marked with volatility of metals prices, through a combination of macroeconomic and geopolitical factors that had a range of both positive and negative impacts,” says EY Canada mining and metals consulting leader Iain Thompson.
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