Low metal prices put chill on northern Ontario mineral exploration – Mining Life
Northern Ontario’s mineral exploration industry is experiencing trying times. Exploration spending is down $400 million from 2011.
Brian Polk, who has been working in the mining and exploration industry in Timmins for the past 30 years, recently had to take up a day job to support his family.
Recent changes to Ontario’s Mining Act have increased the cost and time it takes to do exploration work, he noted.
“It’s hard to get anything done. So, I think a lot of these companies, which are now global in philosophy, are simply just going to places that aren’t as expensive, which could be as close as Manitoba or Quebec.”
Polk added the downswing in the exploration industry is hurting the economy in northeastern Ontario.
“A lot of the old-timers — I guess I’m one of them — say now that this is the worst they’ve ever seen it and I believe it.”
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