Natural Resources Canada has completed its annual report on trends in Canadian mineral exploration.
The mineral exploration sector experiences cycles that last about 10 years. Past lows in exploration spending occurred in 1972, 1983 and 1992, with highs recorded in 1981, 1988 and 1996. From the 1996 high of $900 million, the total dropped steadily to $500 million in 1999, and the forecast for 2000 is similar.
With a rise in the price of gold and an important discovery or two, all is set for a rally in mineral exploration in Canada.
— The preceding is from a bulletin published by the Canadian Association of Mining Equipment & Services for Export, based in Markham, Ont.
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