Yukon ranks fourth in Canada for projected spending on mineral exploration and deposit evaluation for 2018, according to statistics distributed by Natural Resources Canada on November 9. The projected spending for mineral exploration and deposit evaluations is $249.4 million, made up of $142.6 million for exploration, up 32.9 per cent from 2017, and $106.8 million for deposit evaluations, up 73.9 per cent from 2017. Yukon’s share of national exploration investment has nearly doubled since 2016 and now accounts for over 10 per cent of all Canadian exploration spending.
The statistics indicate that Yukon’s anticipated total investments will be $509.6 million for exploration, deposit evaluations and mine development, which is an increase of 135.8 per cent over 2017.
We are proud that Yukon is being recognized as a top jurisdiction in Canada for exploration investment. Our government has focused on building strong relationships with Yukon First Nations to bring certainty to the mining sector, and this year’s investment by major mining companies in Yukon’s junior mining companies is very encouraging. 2018 marks the second highest exploration expenditures in Yukon’s history, nearly doubling our share of national exploration spending in just the last two years.
Minister of Energy, Mines and Resources Ranj Pillai
The increase in mine development is based largely on expenditures by Victoria Gold to develop the Eagle Gold Mine.
Natural Resources Canada (NRCan) coordinates the collection of statistics for off-mine-site and on-mine-site expenditures for exploration, deposit evaluation and mine development.
NRCan and Statistics Canada work with the provinces and territories to collect, assemble, and publish comprehensive national mineral resource development statistics.