Despite record-high gold prices, mining exploration in Canada’s North declines

By Caitrin Pilkington – CBC

For years, gold has been the focus of Canadian mining exploration spending: the financing that backs efforts to find, assess, and potentially develop mineral deposits into mines. These efforts have established Canada as a top gold producer worldwide.

And over the course of 2024, the price of gold shot up by 38 per cent, reaching historic heights. 

But a B.C. report says skyrocketing value didn’t necessarily lead to more investment last year – it found overall exploration spending in the province was down 14 per cent from 2023, and exploration spending targeting gold dropped by 24 per cent.