B.C.’s mineral exploration sector not surprised by Fraser Institute survey results

Vancouver, BC – April 15, 2010 – The Association for Mineral Exploration British Columbia (AME BC) called for the B.C. government to continue to work with industry to address the ongoing challenges facing mineral explorers in light of B.C.’s continued decline in the standings of the Fraser Institute’s Annual Survey of Mining Companies.

This year’s report ranked B.C. 38th overall in investor confidence out of 72 jurisdictions in the survey’s Policy Potential Index, down from 24th place out of 71 jurisdictions in last year’s report. B.C. continues to be ranked 10th among Canadian jurisdictions in the Fraser Institute survey, down from 9th in 2007.

“We are working with government, First Nations, and stakeholders to identify and implement key initiatives that will increase both industry and investor confidence in B.C.,” said Gavin C. Dirom, President & CEO of the Association.  “The year 2010 is a potential turnaround year for B.C. with several large scale mining projects proceeding to construction and a return to higher levels of exploration activity in all regions of the province. We are not surprised by the results of this year’s Fraser Institute survey, but we are seeing the early signs of economic recovery in B.C. being led by the mineral exploration and mine development sector.”

“Earlier this year, the provincial government announced a three-year extension of the B.C. Mining Flow-Through Share Tax Credit,” added Dirom. “Going forward, continued investment in geoscience and greater certainty for mineral tenure holders will improve the ability of industry to explore, discover, and develop new deposits. We look forward to seeing government implement some key strategies that will improve investor confidence and lead to safe, high-paying jobs in all regions of the province.“

For more information, please contact Jonathan Buchanan, Manager, Communications & Public Affairs, AME BC, at 778-840-0620 or jbuchanan@amebc.ca.