Mining Boom Highlights B.C.'s Resurgence

Spending jumped 57 per cent from 2006 and budgets for exploration projects grew, with more than 100 projects having a budget of more than $1-million. B.C.'s estimate of mineral production for 2007 is $5.9-billion, up 5 per cent from 2006. The province had 10 coal and 11 metal mines operating last year; there are currently proposals for 23 new mines on the books. The province is looking to its oil and gas and mining sectors to help make up for losses in its main export sector, forestry, which is being hammered by housing market woes in the United States. “The demand for metals is largely driven by emerging economies,” said Helmut Pastrick, chief economist with Credit Union Central of British Columbia. ... http://www.reportonbusiness.com/servlet/story/RTGAM.20080122.wrexploration0122/BNStory/Business/

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