Mining exploration is back on the upswing in B.C., finally

Training algorithms on cryptocurrency is not the only kind of mining that is picking up these days. According to the 2017 British Columbia mineral and coal exploration survey, released by accounting giant EY at the Prospectors & Developers Association of Canada (PDAC) Convention in Toronto on March 5, exploration spending in the province rose for the first time in five years, to $246 million. Notably, B.C.’s 20% increase in activity outstripped the global uptick of 14%. Gold and other metals were the targets of most of the renewed interest, as demand for coal remains stuck in the doldrums.

“Last year we saw a revitalization of the BC exploration industry, primarily due to a stronger Canadian economy and an improved commodity price outlook. And, without the impact of the devastating wildfire season, expenditures would have likely been even higher,” Iain Thompson, EY Canada Mining & Metals Advisory Services Leader, said in a release. “Looking ahead, we expect these favourable conditions to extend into 2018.”