Gold price steadies as traders focus on uncertain 2025 rate path
Gold has hit successive records this year and is set to close 2024 more than 25% higher.
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Ontario has the most active mining projects in Canada at 1,195 ranging from prospect all the way to permitting.
Quebec is second and British Columbia is third. Saskatchewan, which the Fraser Institute ranked as the world’s friendliest mining jurisdiction, was fourth. However, British Columbia has the most projects at the preliminary economic assessment stage and beyond.
On a per capita basis, there is one active project in the Yukon for every 125 people, the lowest amount of any region including Nunavut and NWT.
Data, which was compiled this month, is based on Mining Intelligence’s tracking of several thousand projects worldwide.
Glen Jones, managing director of Mining Intelligence, says Canada is benefiting from a recovering exploration market.
“Last year Canada was the world’s top exploration country by money spent. Even more money was raised on the TSX Venture Exchange this year which should result in more and more projects coming online,” said Jones.
According to PWC Canada exploration dollars poured into Canada at a faster rate than anywhere else in the world last year. The country attracted 14% of the total global exploration budget. Australia was a close second with 13%, followed by the United States at 7%.
PWC noted in a separate survey that the top 100 TSX Venture Exchange mining companies raised CA$2.04 billion in 2017, up from 174% a year ago.
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Creative Commons image of Sudbury’s Big Nickel by Bruce Guenter.
Comments
John Q Public
The Ontario Liberal Government has made mining rather difficult . There are issues with Native Consulting and treaties,the increase in electricity cost for large operations which has been mismanaged by the former Liberal government. Electricity cost has increased from 4.9c/per Kw to 9.8c/per Kw. Permits take 3-5 yrs. The revenue from exploration is welcomed by the province. Infrastructure in the northern parts are lagging. Once a deposit is found then the problems start.