Copper again led the way in 1987 B.C. mineral value

The value of mineral and petroleum products in British Columbia in 1987 rose to an estimated $3.4 billion, an increase of $184 million over the equivalent 1986 figure, according to the province’s department of energy, mines and petroleum resources.

Copper last year remained the single most valuable metal, at $745 million accounting for more than half of the $1.35-billion value of metals produced in the province. Coal continued as the highest total value mineral product, at $860 million, equal to 25% of all mineral and petroleum values.

Higher prices for major metals helped to raise total metal values by over $190 million from the previous year.

Petroleum and natural gas values also improved in 1987, nearly $61 million above the previous year’s figure of about $839 million.

Industrial minerals were down slightly, by about $8 million or 6%, to $126 million.

While base metals values surged ahead on higher prices, precious metals were also buoyant in B.C., with higher prices spurring additional production from the industry.

Gold production values increased by almost 50% over 1986 to $232 million, as 2.5 million more grams of gold were mined, and prices were up substantially. Total gold production in 1987 was an estimated 11.9 million grams.

Silver also showed a significant increase in value, up $31 million to an estimated $126 million. Molybdenum ouput, valued at $93 million, remained steady at 1986 levels, although up considerably from 1985.