Mineral exploration is booming in B. C.

At a recent industry conference in Reno, Nev., I witnessed an overwhelming excitement about the mineral exploration and development potential of British Columbia. The word is out: B. C. is a great place to explore for and develop new mineral deposits. Even though many prospectors, exploration and development companies faced turbulent global economic conditions and prolonged permitting challenges in 2011, they spent an estimated $ 450 million-$ 500 million on mineral exploration in the province. This level of investment is higher than the $ 322 million recorded in 2010 and represents levels of spending not seen since the 1980s.

In addition, there’s a trend emerging with major mining companies making venture agreements with the exploration companies and undertaking advanced drilling and development programs. In 2011, an estimated one million metres of rock was drilled in search of rare mineral deposits.

Premier Christy Clark demonstrated vision and leadership when she announced in September the government would allocate $ 24 million to expedite the permitting process. With the potential of creating 10,000 jobs over the next 10 years, it’s clear that a robust, predictable and well- resourced permitting process will accrue benefits not only to the mineral exploration and development industry, but to all families and communities in British Columbia.

The B. C. government should also be commended for maintaining favourable tax incentives, committing $ 12 million to Geosciences B. C., and beginning to address human resource challenges through joint initiatives with industry, aboriginal communities and educators. These measures are helping to redefine B. C. as a mineral exploration and development jurisdiction of choice for prospectors, companies and international investors.

Over the last 100 years, the industry has matured and its approach has progressively evolved. Environmental stewardship and social responsibility are key considerations for the success of our projects. B. C. has developed a health, safety and reclamation code that has been adapted for use in 35 countries and our industry’s safety record is two times better than the average injury rate for all sectors in the province. Today, mine closure and reclamation are an integral component of the mining plans. We apply our best knowledge and experience to optimize the resource while being environmental stewards.

Land access remains one of the biggest challenges facing the industry. Explorers, who represent the research and development capacity of the mining industry, require access to large areas to search for elusive new deposits. Actual mining in B. C. has used much less than one per cent of the provincial land base while creating more than $ 600 billion in gross revenues. Although B. C. covers more than 944,700 square kilometres, more than 40 per cent of the land is restricted in such a way that mineral exploration and resource development might never take place.

We believe more of the province’s mineral lands should be protected by government to enable responsible mineral exploration and development. Fortunately, many urban, rural and aboriginal communities in B. C. are now embracing mineral resource development as a means to build capacity, improve training, provide jobs and deliver financial independence and security.

Mineral exploration and mine development are key economic drivers. The higher levels of investment and activity will ultimately lead to new discoveries and mine developments which will spur regional development, create jobs, improve infrastructure and increase government revenues to offset rising health care and education costs. This is a multi- generational socio- economic opportunity that can be measured in the billions of dollars and thousands of jobs.

We must work together to protect the access required to explore for the mineral resources our society needs. I am confident we can develop smart solutions to protect the environment while not losing sight of the enormous benefits a mineral discovery can provide to all of our communities.