Exploration news (December 01, 2005)

BC awarded for online mineral titles system

The B.C. Ministry of Energy & Mines, Mineral Titles Branch, was presented with an award of excellence at ESRI Canada‘s 2005 Regional User Conference in Victoria in October. The award recognized the branch’s innovative application of Internet mapping technology in its Mineral Tenures On-Line (MTO) system. The system has allowed the ministry to achieve, in a very short time, a fundamental shift in the way mineral tenure rights are granted in the province.

MTO is an Internet-based mineral titles administration system that allows the mineral exploration industry to acquire and maintain mineral titles by selecting an area on a seamless digital GIS map of British Columbia and pay the associated fees electronically. There will no longer be a requirement to physically mark a claim on the ground for acquisition purposes. The initial phase of the project implementation was completed in January 2005.

ESRI Canada is a Canadian-owned company specializing in GIS solutions. For more information, visit www.esricanada.com.

MTO also received two other major awards recently: the gold distinction award at GTEC 2005 (Government Technology Exhibition); and the innovative collaboration award (shared) at the B.C. Public Sector Information Technology Awards.

Worldwide budgets soar in 2005

Total spending for commercial nonferrous metals exploration in 2005 is estimated at US$5.1 billion, according to Metals Economics Group‘s recent edition of Corporate Exploration Strategies. This year’s analysis of 1,431 companies’ exploration budgets totals US$4.89 billion, and covers more than 95% of worldwide expenditures.

The Halifax, N.S.-based group estimates worldwide nonferrous exploration spending steadily increased through the early 1990s to a crest of $5.2 billion in 1997, before falling to a 12-year low of $1.9 billion in 2002. This year’s $5.1 billion estimated total is up 34% ($1.3 billion) from last year–a rise of 168% ($3.2 billion) since 2002. (Dollar figures are not adjusted for inflation.)

Latin America continues to be the most popular destination for exploration, increasing its lead over second-place Canada to $205 million, after Canada’s exploration tax incentives helped close the gap to less than $50 million in 2003. Africa remains in third place by region, closely followed by the rest of the world. Budgets increased most in Latin America (led by Mexico and Peru); the rest-of-world category (led by Russia, China and Mongolia); and Africa (with Angola, the Democratic Republic of Congo and Gabon showing the largest gains).

Worldwide exploration spending is expected to increase 10-15% in 2006.

These are some of the conclusions drawn from MEG’s sixteenth edition of Corporate Exploration Strategies. The 820-page two-volume study is now available (on the Internet and in print) for Cdn$17,000. Phone 902-429-2880 or visit www.metalseconomics.com.