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Geoscience Investments

Geoscience Investments Support Mineral Exploration

Government geoscience supports mineral exploration in three important ways:
  1. Allows companies to identify areas with favourable mineral potential. Mineral exploration can be likened to looking for a needle in a haystack. Public geoscience identifies the haystacks by improving regional geological understanding.
  2. Increases exploration efficiency by minimizing the duplication of effort by individual companies and channelling exploration investment towards the most prospective areas. 
  3. Increases exploration effectiveness by providing the information required for informed, risk-based decision-making and by allowing companies to identify exploration targets in a cost-effective manner.
Researchers estimate that every dollar invested in a basic geological survey triggers five dollars in exploration spending by the private sector and that each dollar spent by government on pre-competitive geosciences leads to the discovery of in-situ resources worth between $100 and $150.

Impacts of the Geo-mapping for Energy and Minerals Program

Canada’s Geo-mapping for Energy and Minerals Program (GEM) provides modern, regional-scale, geological knowledge of Canada’s north. Between 2008 and 2012, eight GEM mineral projects generated considerable staking activity and $16.7 million in mineral exploration expenditures. Over the long run, the GEM program is expected to stimulate over $500 million in exploration expenditures, with potential future mineral discoveries at $12 billion.

Public Geoscience is the Lifeblood of Mineral Exploration

Geoscience concepts and techniques are used at almost every stage of the mineral exploration life-cycle. Government investments in geosciences stimulate exploration activity, increase the potential for mineral discoveries and promote economic growth. Programs like GEM pay dividends and the rate of return is often a multiple of the initial investment.

UPDATE
The PDAC Applauds the Prime Minister’s Renewal of Investment in Geoscience
PDAC welcomes the renewal of investment in GEM of $100 million over seven years.

A Canadian Economic Powerhouse
PDAC Executive Director Ross Gallinger discusses the importance of investments in geosciences and the GEM program.

Government geosciences to support mineral exploration: public policy rationale and impact
by J.M. Duke, Ph.D.