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9 factors driving the future of mining in British Columbia

Jurisdictions are an important factor in building a successful mineral exploration venture.

In Canada, British Columbia (BC) is building a brighter future for mining and mineral exploration.

This graph from our sponsor BC Regional Mining Alliance (BCRMA) illustrates nine factors that make a province the right mining jurisdiction.

#1: A powerful mining ecosystem

British Columbia has a long history of mining that has produced a wealth of global industry experts. Today, the area teems with exploratory activity and has:

  • 326 active exploration projects
  • $660 million in exploration spending 2021
  • Over 1.4 million meters of exploratory drilling in 2021
  • 17 mineral and coal mine operating

In addition, the province also offers comprehensive geological data, research from leading institutions, and more than 3,700 mining supply companies.

No. 2: Geological potential

British Columbia’s mining ecosystem has been built on the foundation of its strong history and enormous geological potential. In 2020, the province produced a variety of commodities, including gold, silver, copper, and other base and industrial metals.

mineral 2021 Production value (billions) % of total value
Coal $6.3 billion 49.7%
copper $3.7 billion 29.3%
He went $1.5 billion 12.1%
building aggregates 0.5 billion dollars 3.6%
industrial metals $0.4 billion 3.4%
else 0.2 billion dollars 1.9%
Total 12.6 billion dollars 100.0%

BC is the only Canadian producer of molybdenum, which is used in metallurgical and chemical applications, in addition to being the leading Canadian producer of copper coal and the steel industry.

The province’s Golden Triangle in the northwest region contains some of the most important gold deposits in Canada, with minerals worth more than 800 billion dollars.

No. 3: Effective Regulations

A stable, transparent, and efficient public policy environment in British Columbia makes it easy to convert mineral wealth into mineral production.

The province was ranked the world’s least risky jurisdiction for mining in 2017 and 2018, with its collaborative mandate across government departments cutting timelines for mineral operators and explorers.

Furthermore, BC uses a standardized process to approve mines for all businesses – local, national or international.

No. 4: Enduring Indigenous Partnerships

Supportive Indigenous communities facilitate exploration and mining efforts in British Columbia, so mining accounts for even more. thirds For all indigenous peoples working in the extractive industries sector.

In 2018, 120 indigenous companies were exchanged $265 million The value of goods and services with 17 operating mines in British Columbia. Furthermore, British Columbia was the first province in Canada to share mineral tax revenue with First Nations, more than 130 million dollars Shared with communities so far.

No. 5: Mining Infrastructure

BC offers infrastructure that supports and enhances exploration and mining, including:

  • High voltage transmission line 700 million dollars
  • highway upgrade
  • Hydropower installations
  • Ocean Port Infrastructure Upgrade

No. 6: Impact of Mining on Local Economies

The mining industry is key to British Columbia’s economy as its benefits reach all 203 communities in the province.

In 2020, British Columbia’s mining industry was born $9.5 billion In total revenue has contributed $382 million in government revenue, employment 11378 Persons.

No. 7: Chosen Destination for Responsible Source Minerals and Minerals

Environmental, Social and Governance (ESG) factors are becoming increasingly important to investors while choosing where to invest.

BC offers the opportunity to invest in a globally recognized jurisdiction where raw materials are produced in line with ESG standards due to progressive climate policies, stringent environmental regulations, skilled workforce and adoption of the United Nations Declaration on the Rights of Indigenous Peoples.

No. 8: The abundance of important minerals

The mining industry in British Columbia produces many of the minerals needed for a cleaner future.

Metal Technological applications
copper Wind turbines, solar panels, electric vehicles
silver Solar panels and electric vehicles
zinc Wind turbines, energy storage
nickel Electric cars, energy storage
molybdenum wind turbines
coal industry network infrastructure

With vast resources of critical minerals, BC is well positioned to play a major role in the transition to a low carbon economy and a clean energy future.

Number 9: Increase activity and financial incentives

Exploration expenditures in British Columbia have increased over the past five years. Despite the impact of the pandemic, 2020 saw the highest level of exploration spending since 2014.

The provincial government provides incentives to actively encourage investment in exploration, mining and innovation. These include exploration tax credits, apprenticeship training, as well as investment allowances that allow investors to claim interest on capital invested during the mine’s production.

Mine development is also greatly stimulated in British Columbia, where companies can claim a third of eligible capital expenditures for mine development and expansion.

A bright future for mining and exploration

British Columbia’s natural potential for mineral exploration, combined with jurisdictional advantages, makes it one of Canada’s prime locations for the mining industry.

With efficient regulations, mineral-rich geology and active mining industry, BC offers a bright future for mining and mineral exploration.

>>> BCRMA is a strategic partnership between Indigenous groups, industry and government representatives that aims to advance mining opportunities in British Columbia internationally.

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