SURVEY: PwC finds optimism among BC miners

VANCOUVER – The 50th annual report on the mining industry of British Columbia conducted by PwC found optimism returning to the sector. Most commodity prices remain below the highs seen in 2011, but the firm can see an upward trend in recent changes. Gross revenue from B.C. operations was $11.7 billion in 2017, compared to $8.7 billion in 2016. That is a 35% increase year-over-year. Looking at net revenue by commodity, metallurgical coal accounted for 51% of the revenue for the province’s miners, followed by copper (19%), zinc (12%), gold (8%), silver (5%). The balance of net revenue came from molybdenum, lead and miscellaneous sources. The report contains many interesting numbers as well as a look at major commodities. There is also a profile of the Red Chris and Copper Mountain mines. "Confidence has returned to the B.C. mining industry. Commodity prices have increased and we haven't seen such positivity since the recovery following the 2008-09 global financial crisis. We are cautiously optimistic that the worst is behind us and that the industry will continue to recover," says Mark Platt, B.C. Mining Leader, PwC Canada. Read the entire report by clicking here or go to www.PwC.com/ca.