Canadian gov’t to spend $25 million on exploration

Reporting from the PDAC, The London Free Press says the federal government will spend $25 million on mineral exploration over the next five years in the hopes of driving more mining business to Canada.

Minister of Natural Resources Christian Paradis made the announcement from the annual mining conference in Toronto on Monday.

The announcement more than doubles the initial two-year allocation of $12 million to help develop new ways of looking for deep mineral deposits and to help boost private sector activity in the highly lucrative and increasingly competitive industry, the minister’s office said.

he announcement more than doubles the initial two-year allocation of $12 million to help develop new ways of looking for deep mineral deposits and to help boost private sector activity in the highly lucrative and increasingly competitive industry, the minister’s office said.

“The Government of Canada recognizes that modern geoscientific information can help lower industry’s exploration risks and support the search for undiscovered natural resources,” Paradis said from the conference of the Prospectors and Developers Association of Canada.

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