{"id":1170462,"date":"2020-03-09T12:11:44","date_gmt":"2020-03-09T18:11:44","guid":{"rendered":"https:\/\/www.mining.com\/?p=1016513"},"modified":"2020-03-09T12:11:44","modified_gmt":"2020-03-09T18:11:44","slug":"bc-mining-expenditure-growth-flattened-in-2019","status":"publish","type":"post","link":"https:\/\/juniorminingnews.com\/?p=1170462","title":{"rendered":"BC mining expenditure growth flattened in 2019"},"content":{"rendered":"<p>The positive momentum gained in\u00a0British Columbia\u00a0from mineral and coal exploration expenditure between 2016 and 2018 flattened out in 2019, according to the <a rel=\"noreferrer noopener\" aria-label=\"British Columbia Mineral and Coal Exploration Survey (opens in a new tab)\" href=\"https:\/\/assets.ey.com\/content\/dam\/ey-sites\/ey-com\/en_ca\/topics\/mining-metals\/ey-british-columbia-mineral-and-coal-exploration-survey-2019.pdf\" >British Columbia Mineral and Coal Exploration Survey<\/a><em>.<\/em><\/p>\n<div class='d-flex justify-content-center d-xs-block d-sm-block d-md-none'>\n<div id='div-gpt-ad-1561499308230-0'><script>googletag.cmd.push(function() {googletag.display('div-gpt-ad-1561499308230-0');});<\/script><\/div>\n<\/div>\n<p>The report is a joint initiative between the Government of\u00a0British Columbia EY and the Association for Mineral Exploration (AME), and includes insight collected from 326 exploration projects across the Canadian province.<\/p>\n<p>The 2019 survey shows companies\u2019 exploration expenditure remained relatively unchanged from a 2018 peak of C$330 million, with a slight decline in expenditure to C$329 million. <\/p>\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/www.mining.com\/wp-content\/uploads\/2020\/03\/image-2.png\" alt=\"\" class=\"wp-image-1016524\" srcset=\"https:\/\/www.mining.com\/wp-content\/uploads\/2020\/03\/image-2.png 664w, https:\/\/www.mining.com\/wp-content\/uploads\/2020\/03\/image-2-300x204.png 300w\" sizes=\"(max-width: 664px) 100vw, 664px\" \/><figcaption>Annual exploration expenditure &#8211;  British Columbia Mineral and Coal Exploration Survey <\/figcaption><\/figure>\n<p>&#8220;Global demand for base metals has seen a significant increase, likely driven by an uptick in demand for electric vehicles and green energy, pushing investor focus from gold to copper,&#8221; said\u00a0Iain Thompson, EY Canada Mining &amp; Metals Advisory Leader. <\/p>\n<p>&#8220;Meanwhile, coal saw a decline in investment despite optimism in the previous year surrounding future growth.&#8221;<\/p>\n<p>The Golden Triangle in northwestern BC continues to attract exploration activity, as investors capitalize on high-grade discoveries supported by investment from major firms, partnerships with Indigenous groups and continued infrastructure development. <\/p>\n<p>Overall, gross revenues are estimated to approach C$9 billion per annum for the province, and of the 200 companies that reported on the distribution of spending, 138 spent 50% or more in local communities, EY says. <\/p>\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/www.mining.com\/wp-content\/uploads\/2020\/03\/image-1.png\" alt=\"\" class=\"wp-image-1016521\" srcset=\"https:\/\/www.mining.com\/wp-content\/uploads\/2020\/03\/image-1.png 713w, https:\/\/www.mining.com\/wp-content\/uploads\/2020\/03\/image-1-300x164.png 300w\" sizes=\"(max-width: 713px) 100vw, 713px\" \/><figcaption>Source: British Columbia Mineral and Coal Exploration Survey<\/figcaption><\/figure>\n<figure class=\"wp-block-pullquote alignright\">\n<blockquote>\n<p> Grassroots and early-stage exploration accounted for 40% of total exploration in 2019, down from 44% in 2018 <\/p>\n<\/blockquote>\n<\/figure>\n<p>The Northwest region accounted for 55% of total expenditure for the province, seeing a 10% increase in spending.<\/p>\n<p>Grassroots and early-stage exploration accounted for 40% of total exploration in 2019, down from 44% in 2018, as exploration spending moved to advanced and mine evaluation stages.<\/p>\n<p>&#8220;We&#8217;ve seen a further shift in spending along the exploration lifecycle with increases in late-stage exploration, bringing forward the possibility of new mines in the province in the near future,&#8221; said Thompson.<\/p>\n<h2><strong>The 2018 &#8220;gold rush&#8221; saw a shift to copper<\/strong><\/h2>\n<p>The decline in gold exploration investment continued in 2019, with its share down by 11% as investors increased their focus on base metals and other commodities. <\/p>\n<p>Decreases in gold were offset by increases in copper, whereas declines in coal were balanced by increases in nickel. <\/p>\n<p>Copper was the leading base metal, contributing 72% of total metal spend, up 31% to\u00a0$103 million. <\/p>\n","protected":false},"excerpt":{"rendered":"<p>Decreases in gold were offset by increases in copper, whereas declines in coal were balanced by increases in nickel.<\/p>\n","protected":false},"author":110,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""}},"footnotes":""},"categories":[2648,624,2849,369],"tags":[],"_links":{"self":[{"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/posts\/1170462"}],"collection":[{"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/users\/110"}],"replies":[{"embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=1170462"}],"version-history":[{"count":1,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/posts\/1170462\/revisions"}],"predecessor-version":[{"id":1170463,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/posts\/1170462\/revisions\/1170463"}],"wp:attachment":[{"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=1170462"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=1170462"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=1170462"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}