January 19, 2006

B.C. mining exploration totalled $220 million in '05

The Thursday, January 19, 2006 online edition of the Vancouver Sun included an article on the mining boom in British Columbia. Although it doesn't mention boundary waters threats such as the Lodgepole and Lillyburt mines specifically, it does provide a great deal of economic and political context for these activities . . .

British Columbia's mining sector crossed a crucial threshold in 2005, attracting $220 million for mineral exploration and virtually guaranteeing the industry's future in this province.

That's the third-highest total in the past 60 years, and the largest amount since 1990, Minister of State for Mining Bill Bennett noted in an announcement Wednesday at the British Columbia Institute of Technology.

Bennett said when he was first elected in 2001, exploration investment stood at $29 million.

The industry was at risk of collapse because there wasn't enough money coming in to find and develop new properties to replace existing mines as they became exhausted, he said . . .

Bennett noted that there are now 18 projects undergoing environmental review compared to just one in 2001.

"At $220 million, mining in B.C. once again becomes a sustainable, long-term industry with enough exploration happening to find the new deposits that eventually will turn into new mines," Bennett said.

Read the entire article . . .

Posted by nfpa at January 19, 2006 02:19 PM