Mining’s old guard needs strong medicine
A new report details subpar investor returns in the mining industry over the last decade, particularly big cap diversified companies which have not adapted to new realities.
Following the recommendations of the Mining Jobs Task Force report released in January 2019, the Government of British Columbia granted Geoscience BC C$5 million in one-year bridge funding to support earth science research in the western Canadian province.
In a press release, the non-profit organization said the new funding will allow for the continuation of its minerals, energy and water related public earth science for another 12 months. The cash injection will also avoid the halting of ongoing projects and allow for new programs scheduled for 2019-2020 to go ahead as planned.
BC Minister of Energy, Mines and Petroleum Resources, Michelle Mungall, together with Geoscience BC President Gavin C. Dirom, and Executive Vice President Carlos Salas. Photo by Geoscience BC.
Among the projects set to begin soon, the group cited a new airborne survey over northern Vancouver Island to identify potential mineral deposits; new research to better understand how earthquakes travel through the ground in northeast BC; and a regional assessment of geothermal energy potential in the Garibaldi Volcanic Belt in partnership with the Geological Survey of Canada.
“The research that will come from this funding will attract the investment necessary for resource development,” Geoscience BC president and CEO, Gavin C. Dirom, said in the media statement. “Geoscience BC’s minerals, energy and water research meets a need for new public geoscience data that attracts investment, informs decisions, stimulates innovation and supports the responsible development of BC’s natural resources.”
