Cross-Cuts WILL COPPER COME A CROPPER?

Unfortunately, funds for base metal exploration have dried up. In 1986, only $85 million (or about half the average of 10 years earlier) was spent on exploration. Cranstone and Lemieux estimate that $300 million should be allotted annually to explore for base metals. NUCLEAR FRONT-RUNNER

Nobody questions the importance to a nation of its research and development capabilities. The products of today’s labs and bench-scale tests could be tomorrow’s big export- earners. Happily, we can report that Canada, often regarded as an also-ran in the R&D field, is a front- runner in nuclear power research.

According to the International Energy Agency, Canada gets top marks for the effectiveness of its nuclear research and development. The study, published by The United Kingdom Atomic Energy Authority, shows that for every dollar Canada spends on research and development, it has received slightly better than 200 kilowatt hours of generation.

Its closest rival is the United Kingdom, which gets a bit more than 125 kilowatt hours per dollar spent. The U.S. was third, followed by Japan, France, West Germany and Italy.

We shouldn’t gloat, but let’s face it: We blew the competition right out of the water. GAINS ALL AROUND

The bald facts, as published by the Mining Association of Canada, are these: In 1987, the value of mineral production in Canada (excluding petroleum and natural gas) reached a record $17.7 billion, part of which could be explained by higher metals prices.

The value of gold production rose 32.8% to $2.2 billion, copper production by 29.3% to $1.8 billion, and zinc production by 41.1% to $1.7 billion. Also posting significant gains were nickel, lead and uranium. Iron ore production rose but, in dollar terms, the exports declined by 6.6% to $1.25 billion.

Average weekly wages and salaries in mining reached $682.92 in 1987, 54.3% more than the industrial aggregate average wage of $442.68. The best wages and salaries were to be had in the coal mines, according to the statistics.

The numbers are pretty impressive and, we suspect, the figures for 1988 will be more dazzling. NON-FERROUS DROP

Worldwide non-ferrous mineral exploration budgets dropped an approximate $350 (us) million in 1988 compared with the 1987 level of activity, according to Metals Economics Group of Halifax, N.S. Investor disinterest in the wake of the October, 1987, stock market crash and weaker gold bullion prices were the chief causes of the decline.

Canadian exploration spending dropped by $250 million while Australians spent $80 million less. But while exploration spending is down domestically, non- placer primary gold production should rise by about 26% over the 1987 figure. In a separate study prepared by Metals Economics Group, projections call for Canadian output to reach 3.9 million oz of gold this year, a healthy increase from the 3.1 million oz domestic mines yielded in 1987.

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