RE:Lots of interesting stuff in this one ALLOCATION OF INVESTMENT BY MINERALS AND METALS
Precious metals attracted the lion’s share of Canadian
exploration spending in 2012, accounting for 49% overall
(see Figure 20). However, recent and significant price
fluctuations for gold, which began in late 2012, are likely
to impact the share of expenditures allocated to precious
metals in the future.
Between 2002 and 2012, iron ore saw the most dramatic
jump in exploration spending, rising 195-fold over the
decade, with many projects located in Newfoundland and
Labrador and northern Canada.
Base metal exploration’s share of total investment, despite
having grown in monetary terms, has shrunk from 24% in
2002, to 17% in 2012, reflecting the depletion of Canadian
base metal reserves already discussed. Currently, the
replenishment of reserves is not keeping pace with global
demand for these highly important metals. Without
sustained and e
ffective exploration, Canadian base metal
production will outstrip reserve additions, with profound
implications for the communities and people who benefit
from the economic opportunities the industry directly and
indirectly generates.