This past year has been both difficult and disappointing for British Columbia’s mining industry. Two mines closed and no new ones were opened. Mineral exploration plummeted dramatically and is now expected to total a mere $25 million this year, compared with $264 million in 1990.
The province’s mining industry posted a $156-million loss in 1998, and how it has fared in 1999 will not be known until final figures are totalled.
The amount of money being spent to find new mines — the barometer by which the future of the industry can be measured — is perhaps the chief cause for concern. Unless companies spend money looking for mines, no mines will be found to replace those that are nearing the end of their productive lives, and until spending improves, the future of mining in this province will remain in jeopardy.
During the 1990s, 14 mines closed, whereas only seven opened — hardly a formula for sustainability. And yet, despite this disturbing trend, things can be turned around provided the political exists.
Last year, mining in British Columbia generated $1 billion in tax revenue — money that is crucial for the delivery of education, health care and the other essential services.
Last year, mining generated 56% of all rail freight revenue in the country, and it accounted for 69% of total port volume — far greater than grain shipments and all container traffic. Yet despite these contributions to the economy, the provincial government continues to turn a blind eye to policies that threaten the future of mining. In doing so, the government is jeopardizing its own prosperity and the prosperity of the people of this province.
— The author is president of the Mining Association of British Columbia.
Be the first to comment on "Future of BC mining uncertain"