Insights from the BC Mineral and Coal Exploration Survey 2022 published

EY

March 28, 2023

The British Columbia Mineral and Coal Exploration Survey is a joint initiative between the government of British Columbia’s Ministry of Energy, Mines and Low Carbon Innovation (EMLI), the Association for Mineral Exploration (AME) and EY. The survey was conducted to provide a view of the current state of the mineral and coal exploration sector in British Columbia (BC). This is the seventh year the group has gathered survey data and presented its findings.

Data and analysis presented in the survey are based on information collected from 170 mineral and coal exploration companies operating in BC. Collectively, they represent 230 exploration projects across the province.

Data and analysis presented in this report are for the period January 1 through December 31, 2022 and are based on survey responses and information collected from financial reports and press releases from 170 companies operating in BC, which collectively represent 230 projects across the province.

For ease of completion, the survey is designed to be similar to Natural Resources of Canada’s (NRCAN) Survey of Mineral Exploration, Deposit Appraisal and Mine Complex Development Expenditures.

According to the report, 2022 marked a year of volatility of metals prices, through a combination of macroeconomic and geopolitical factors that had a range of both positive and negative impacts. The reduced risk of pandemic related shutdowns and full reopening of economies countered by the outbreak of the Russia-Ukraine war and the energy crisis in its wake created an environment of uncertainty in the commodity market. With this backdrop considered, the year also marked a record-year for exploration in British Columbia. BC recorded $740m spent on exploration in 2022, a 10-year high that surpasses the previous record held by the $681m spent in 2012.

You can download a copy of the report for free here

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