This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

BC At Leading Edge Of New Canadian Copper Mines

BC at Leading Edge of New Canadian Copper Mines

Mining companies increased their investments in exploration in British Columbia, Canada, by 47 percent in 2012, according to the latest estimates from the Ministry of Energy, Mines and Natural Gas. That number should increase again, with copper miners accounting for the lion's share.

In 2012, the industry spent an estimated C$680 million on exploration in British Columbia, up from $462 million. According to The Mining Association of Canada's annual Facts & Figures 2012 report, of 31 mining projects and their total planned capital investments, copper and copper-related projects in BC accounted for at least 14 of them, or at least $19 billion of a total $29 billion.

The planned projects could help reverse the trend of declining shipments of copper concentrate from British Columbia mines. From 2007 to 2011, copper concentrates shipments declined to 668,000 tons from 816,000 tons, according to PricewaterhouseCoopers' data, amid the global financial crisis, lower prices and falling production from aging mines.

Looking further back, at the industry as a whole, not only did exploration expenditures more than halve between 1997 and 2002, but the number of major deposit discoveries dropped off substantially since the late 1980s and early 1990s, UBS said in a 2008 report. The fall in exploration success was, among other reasons, due to: declining metals prices; environmental legislation raising the prospect of legacy liabilities in traditional mining areas; land ownership issues; and high geopolitical risks. In addition, copper grades on average declined by 2 percent per year in the preceding 10 years.

Still, BC accounted for over 30 percent of Canada's copper production in 2011 and according to Natural Resources Canada, BC had 64 percent of Canada's proven and probable mineable copper reserves as of December 2010.

1 of 4

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free
AAPL $93.64 -0.11%
FB $118.57 0.84%
GOOG $698.21 0.75%
TSLA $241.80 0.43%
YHOO $36.53 -0.19%


Chart of I:DJI
DOW 17,891.16 +117.52 0.66%
S&P 500 2,081.43 +16.13 0.78%
NASDAQ 4,817.5940 +42.2360 0.88%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs