The world-wide boom in commodities has seen profits for Canadian mining companies soar and shareholders are loving it.
Buried in the good news is an interesting development that may prove beneficial to mining companies and the communities dependent upon them even after base and precious metal prices hit the bottom of the present cycle.
Flush with profits, mining companies are taking intense and expensive looks at former producers in Ontario’s historic mineral camps. What this is doing in the short term is putting pressure on the exploration sector as companies turn back to Red Lake, Kirkland Lake, Sudbury and Timmins while coping with a shortage of workers.
Still, it is good for the local economies and contains the promise of a bright future if mineable ore can be found in closed workings.