Exploration, investment climate, and discoveries
2003 – an excellent year
Direction de la politique et de l’économie minérales
2003 was particularly interesting for mineral exploration
in Québec. Here are the highlights:
- Significant increase in exploration and deposit appraisal
- These expenditures reached 149 million dollars in 2003,
an increase of $37.4 million (34%), from $111.2 million
in 2002. They rose for a third consecutive year, from
the $94.1 million recorded in 2000.
- The rise in Québec was greater than that observed
for worldwide exploration budgets (up US$500 million;
26%), which reached a total of US$2,400 million. Québec
therefore increased its share of worldwide exploration budgets
to 4.4% in 2003.
- Gold and nickel were among the most sought after commodities,
while expenditures for diamond exploration continued to rise,
reaching more than $16 million in 2003.
- Québec ranked 1st in Canada and 4th
worldwide for its investment attractiveness, according to the
- According to the Fraser Institute 2003-2004 annual survey
of 159 mining companies, Québec was only outranked
by Chile, Nevada, and Western Australia, and was rated 4th
out of the fifty-three most important mining jurisdictions
in the world.
- For the third consecutive year, Québec was therefore
in the top five mining jurisdictions worldwide (1st
worldwide in 2001-2002, 2nd worldwide in 2002-2003).
For more information as well as the Fraser
Institute complete Annual Survey of Mining Companies 2003-2004
- Québec ranked 1st in Canada for the
number of recent exploration discoveries financed by flow-through
- According to a brief presented by the Prospectors and
Developers Association of Canada (PDAC) in 2003,
Québec has had more flow-through financed mineral discoveries
since 2000 than any other jurisdiction in Canada.
- Seventeen discoveries were made in Québec, including
six metal discoveries with the potential to eventually go