https://www.cbc.ca/news/canada/north/
High gold prices aren’t resulting in higher spending, report finds
For years, gold has been the focus of Canadian mining exploration spending: the financing that backs efforts to find, assess, and potentially develop mineral deposits into mines. These efforts have established Canada as a top gold producer worldwide.
And over the course of 2024, the price of gold shot up by 38 per cent, reaching historic heights. But a B.C. report says skyrocketing value didn’t necessarily lead to more investment last year – it found overall exploration spending in the province was down 14 per cent from 2023, and exploration spending targeting gold dropped by 24 per cent.
“There are a number of factors that play into the level of exploration spend beyond commodity price,” said Iain Thompson, a partner with EY Canada, the consulting firm behind the report. He pointed to a number of projects in B.C. that are further along the development life cycle and global decline in exploration spending.
For the rest of this article: https://www.cbc.ca/news/canada/north/despite-record-high-gold-prices-mining-exploration-in-canada-s-north-declines-1.7472753