EDITORIAL PAGE (April 06, 1992)

The opportunities for mineral exploration outside of Canada are certainly inviting, and many Canadian companies are taking advantage of other countries’ efforts to attract mining investment. It is worth remembering, though, that Canada still has a great deal to offer when it comes to looking for ore.

The problems of doing business here cannot be ignored. Problems associated with our harsh climate and remote areas are beyond our control much the same as metal prices are. What is of greater concern, however, is the growing number of problems we seem to manufacture for ourselves. These self-imposed restrictions that arise from the evolving issues of land access, environmental compliance and native land claims are simply not being resolved. Even so, Canada remains prime ground for mineral exploration. According to the Halifax-based Metals Economics Group, Canada is still the prime destination of worldwide exploration investment. One of its recent studies determined that almost one-quarter of global exploration funding in 1991 was spent in Canada, more than any other country.

At the Prospectors and Developers of Canada’s annual meeting recently, Ontario’s assistant deputy minister of mines reminded delegates just how much Canada has going for it. While many continue to extol the virtues of Latin America or the newly independent republics of the former Soviet Union, John Gammon took the opportunity to stand up for Canada and point out the opportunities that still can be found here.

The grass may seem greener in other political jurisdictions, but he listed some of the advantages of working in Canada.

–A wide variety of geological environments ranging from the Canadian Shield, where some of the world’s oldest rocks are found, to the western Cordillera hosting some of the youngest. “The range of lithologic ages and tectonic environments is incredible.”

–Security of title that explorationists in other countries can only dream of. Nowhere else can you so easily acquire land immediately simply by staking a claim.

–A wealth of comprehensive, up-to-date geological information open to the public and easily accessible.

–A vibrant capital market that lets investors spread the financial risk of exploration. The Toronto and Montreal stock exchanges’ blue-chip status adds depth to our capital markets while the more venture capital oriented markets in Vancouver and Calgary provide breadth.

–A sophisticated service sector that is experienced at meeting the needs of the mining industry. “Our contractors and consultants are known around the world for their in-depth expertise,” says Gammon. “This accumulation of knowledge is available to our domestic industry on its own doorstep.” –Perhaps the most telling item on Gammon’s list of advantages is our way of life — political stability, a sound and independent legal system, a tradition of freedom and democracy, security and a high standard of living. These are qualities very few other nations enjoy.

When it comes to comparing countries in any single one of these areas, Canada may not always rank at the top of the list. But there is no country in the world that ranks as high when all of them are considered together. The potential is still here for great mineral discoveries. The challenge is to reverse the current trend of adding roadblocks that hinder mineral exploration. Whether tomorrow’s discoveries are truly ore bodies depends a great deal on how quickly and effectively we resolve the issues that are within our power to control.