Vancouver — The 23rd annual Mineral Exploration Roundup, hosted by the newly dubbed Association of Mineral Exploration BC (previously the British Columbia & Yukon Chamber of Mines), once again set a record in attendance with about 5,400 registered delegates.
As evidenced by the strong turnout over the Jan. 23-26 conference, a booming metals cycle continues to drive the buoyant junior mining market. TSX-Venture board trading volumes have seen an impressive surge since the beginning of the year, to a more than 4-year high, with many juniors touching 52-week highs.
In British Columbia, home to about 60% of Canada’s mining and exploration companies, 2005 exploration spending soared to $220 million, the highest figure in more than a decade.
“We’ve come a long way from four years ago, when exploration spending in B.C. was only $29 million,” said B.C. Minister of State for Mining, Bill Bennett.
The number of exploration projects grew to 650 last year, up 38% from the 470 recorded in 2004.
In 2005, drill programs were under way on 235 mineral properties in B.C., with 18 advanced-stage projects at the environmental review stage.
A major issue tabled during the conference was the growing skills shortage, as qualified professionals and trades persons remain in high demand. Last year, over 4,000 people were employed in seasonal exploration jobs in B.C.
In total, more than 25,000 people are employed in mineral exploration and mining-related activities in British Columbia (about 10,000 direct jobs and 15,000 spin-off jobs). The mining sector is one of the province’s highest paid industries with average salaries (including benefits) at more than $94,000 a year.
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