Resouce Funding for Mining Industry

Year
2011
Category
Finance
NCLGA Ref#
B14
UBCM Ref#
B154

Status

Endorsed by the NCLGA and UBCM Memberships

Details

WHEREAS we of the North Central Local Government Association are aware of the critical importance of the mining industry to strengthen and diversity the economy of British Columbia;

AND WHEREAS the NCLGA covers a vast region of valuable geological resources:

THEREFORE BE IT RESOLVED that the NCLGA & UBCM request that the Province of BC continues to ensure funding for all Regional Area Geologists.

Additional Information

UBCM Comments:

UBCM Members have not previously considered a resolution requesting that the Province ensure funding for all Regional Area Geologists.

Background Information

The North Central Local Government Association covers a vast region of valuable geological resources, as well as 10 operating mines, two mines under development, and nine major mine projects under provincial and federal government review. In 2010, mineral exploration expenditures in the NCLGA region were approximately $249 million, accounting for 77% of province-wide expenditures.

The discovery of economic mineral deposits, which are invariably elusive and hidden from view, followed by building and bringing new mines into production are the best indicators of success for mineral explorers. It's a very rare and special feat to find an economic deposit, but every British Columbian can benefit from these valuable projects.

These projects are especially important in light of the fact that forestry jobs are shrinking and need to be replaced with job opportunities equal in compensation in order to sustain the health of regional economies.

Regional Geologists are invaluable resources in tracking projects from initial exploration through discovery, advanced exploration, and development. Regional Geologists provide professional expertise as the Ministry’s leading regional geological specialists to officials of mineral exploration and mining companies, locally based prospectors, the public, First Nations and government agencies regarding mineral resources, geology and mineral exploration and development. The information that they provide is a critical tool for mineral exploration companies in determining where to invest, and is also used in the development of provincial government policy such as land planning and terrain hazards. Adequate funding of Regional Geologists is also critical to ensuring that reliable, up-to-date information regarding mineral exploration, development, and mining projects near communities is available equally to all stakeholders.

Although the NCLGA Region attracts approximately 10% of Canada’s mineral exploration expenditures and a significant portion of its mining activity, the Province has also only funded one Regional Geologist in recent years, compared to two regional geologists up to 2009, reducing the province’s competitive advantage when compared to other jurisdictions in Canada. Increased funding of Regional Geologists will contribute to a sustainable mineral exploration, development and mining sector in the Province.