Exploration spending in Canada is on the rise

Exploration spending in Canada is expected to total $945 million in 1996, an increase of 24% over last year, according to a federal survey.

The Survey of Canadian Mineral Exploration Expenditures estimates $764 million was spent on exploration in the country in 1995. Of that total, senior companies contributed $503 million and juniors, $261 million.

Expenditures continue to increase in most of the country, with three-quarters of all activity being conducted in the Northwest Territories, Quebec, Ontario and British Columbia.

Recent discoveries, including diamond deposits in the Northwest Territories and the nickel-copper-cobalt deposit in Labrador, together with rising metal prices, are credited with stimulating exploration investment.

Canadian Mineral Exploration Expenditures

Jurisdiction 1995 1996 Preliminary
(000s) (000s)
Newfoundland $70,838 $111,329
Nova Scotia 1,836 2,256
New Brunswick 17,482 20,110
Quebec 137,608 175,707
Ontario 135,932 158,748
Manitoba 35,456 33,321
Saskatchewan 46,760 42,557
Alberta 12,004 14,879
B.C. 83,451 123,511
N.W.T. 189,514 219,279
Yukon 32,626 43,526