Mineral Exploration in British Columbia

2008 Exploration Highlights

• Mineral exploration expenditures in British Columbia reached $367 million in 2008, over 1000% above the 2001 investment level.
• Second-highest total ever for exploration spending in this province despite a difficult economic climate in the last quarter of 2008.
• There were 388 exploration projects for minerals, coal, industrial minerals and aggregate throughout B.C.
• Number of exploration projects with budgets in excess of $1 million was 98.
• Number of exploration projects with budgets in excess of $100,000 was 256.
• Total exploration drilling reached about 1.05 million metres.
• Number of new mine development proposals was 26: 14 metal mines, 7 coal mines, 3 industrial minerals operations and 2 large aggregate operations.
• Mines in production at the end of 2008: 8 metal, 9 coal and over 30 industrial minerals.
• Over 20 mineral development projects under environmental review (with the Environmental Assessment Office).
• Over 30 new mineral deposit discoveries were made.
• 60% of Canadian exploration companies are based in B.C., raising $2.9 billion in equity capital (about 40% of the total equity capital for Canadian-listed companies).
• B.C. is estimated to have accounted for about 15% of Canadian mineral exploration investments during 2008, up from about 7% in 2000.
• Exploration figures are generated annually by the British Columbia Geological Survey's regional geologists, who visit many of the exploration sites and survey the industry for additional information.
• Projects such as Geoscience BC’s QUEST West are also creating the data required to help companies focus their exploration in B.C.’s less-explored areas

Exploration Expenditures by Mining Region

CLICK HERE for historical information on mineral exploration expenditures in British Columbia.