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Rising Commodity Prices Boost B.C. Mineral Industry

Jan. 18, 2010

VANCOUVER – Rising commodity prices signal that 2010 will be a strong year for B.C.’s mineral industry, announced Randy Hawes, Minister of State for Mining. Hawes also announced that mineral exploration activity in B.C. reached $154 million in 2009 with 30 mine development projects submitted to government.

“This was the sixth-highest total for exploration spending in the last 20 years,” said Hawes. “Despite a difficult economic climate in 2009, the mining industry is helping lead the provincial economic recovery. The province’s mineral resources are in demand, and B.C. is an attractive place to invest in exploration and mining.”

Northwest B.C. saw $65 million in mineral exploration activity last year, while the Northeast had $20 million and the North-Central region had an estimated $28 million. The South-Central region of the province had $21 million in activity, with $9 million in the Southeast and $11 million in the Southwest.

“We are optimistic that 2010 will be a year of growth for the mineral exploration sector in British Columbia,” said Gavin C. Dirom, president and CEO of the Association for Mineral Exploration British Columbia. “The 30 mine projects under review also hold billions of dollars of economic potential that could greatly benefit all British Columbians.”

Hawes proclaimed Jan. 17 to 23, 2010 Mineral Exploration Week. This is the third year the Province has recognized Mineral Exploration Week, which celebrates the contributions the prospectors and companies of the mineral exploration industry and its related industries make to B.C.

Hawes made the announcements during a keynote address at the opening of Mineral Exploration Roundup 2010. The Association for Mineral Exploration British Columbia’s 27th annual Roundup conference is held in Vancouver Jan. 18 to Jan. 21. Roundup is a technical mineral exploration conference highlighting Canadian and international exploration and mine development activities. More than 5,700 delegates attended the conference last year.

The Ministry of Energy, Mines and Petroleum Resources released two reports documenting the 2009 exploration and mining activity, as well as the annual report on Geological Fieldwork and several other reports and maps by the British Columbia Geological Survey.
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