Weak prices in gold, potash, uranium and base metals could pose a problem for exploration efforts down the road according to a mineral expert in the province.
Scott McHardy works for the Saskatchewan Mining Association.
He says 2007 was a banner year for mineral claims in northern Saskatchewan.
Our province had a great year last year but McHardy says that could change if prices don’t rebound.
He explains funding is needed to continue present exploration campaigns and to mount major expeditions:
“It’s the commodity prices just aren’t supporting the amount of work that needs to be done. We see a lot of the mining companies cutting back or deferring or delaying some of their capital projects and that’s happening across the world.”
He adds over half of the exploration in our province involves potash and industrial metals like coal.