Mining upswing piques renewed exploration interest among Canadian miners

Renewed enthusiasm, thanks to the upswing in the mining cycle, has boosted exploration spending by Canadian miners by 31%, a rate that is more than double the average increase reported by the world’s 40 largest mining companies.

According to advisory group PwC, Canada-based mining companies have upped their exploration spending from C$473-million in 2016, to C$620-million in 2017.

"Last year was a remarkable year for Canadian miners with significant increases in exploration spending,” PwC Canada national mining leader Liam Fitzgerald said in a media statement on Wednesday.

Strategic partnerships are also helping companies to keep pace with advancements in technology. For example, Canadian companies are partnering with startups to create programmes that accelerate planning by turning data into an immersive visualisation of a mine's complete life cycle.

“This type of technology innovation is a game-changer for the Canadian exploration market, enabling organisations to plan entire operations without even leaving the office.”

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