COMMENTARY — Looking overseas for work

It is a double-edged sword that now hangs over the Canadian diamond drilling industry.

By working hard, we have earned a worldwide reputation for high standards and efficient production. However, this same hard work may actually be one of the reasons we’re experiencing a noticeable shortage of lucrative drilling projects in Canada.

There are those who would say we have over-achieved, and perhaps they’re right. But regardless of individual opinion, one thing is clear: We have exhausted a respectable portion of our own natural resources in Canada, and this depletion, coupled with an adverse economy and growing pressures from environmentalists, is placing severe restrictions on future exploration work in Canada.

With more and more of our mining companies looking favorably at investing in offshore development, where does that leave our contractors? It is evident that more and more of our member firms are considering the benefits of establishing operations outside of Canada. There can be no doubt that this trend toward “externalism” has the potential to yield significant returns, particularly when one considers the global marketplace. Mexico, for example, is emerging as a nation whose economy is quickly picking up momentum. The countries of Southeast Asia have generated huge surpluses in their treasuries. And what about Russia and other nations whose peoples have so recently thrown off the dark cloak of communism?

These are but a few of the countries that are seeking a greater share in the rewards of their natural resources.

And who would be involved in these far-reaching exploration and mining activities? The answer is simple: the people and companies most capable of doing the work. And we know that here in Canada, we not only have a surplus of drilling equipment, we also have an experienced workforce capable of operating it.

Perhaps we have no choice but to follow the lead of other Canadian industries that are setting their sights on the attractive potential of other lands. — From the special Golden Anniversary booklet of the Canadian Diamond Drilling Association, North Bay, Ont.