Geoscience BC receives $3 million for resource development research

Page 22Bill Bennett, Minister of Energy and Mines and Minister Responsible for Core Review, announced that Geoscience BC will receive $3 million in funding to continue its work to support and attract resource exploration, development and investment.

The funding will support the continuation of Geoscience BC’s newest project, Targeting Resources for Exploration and Knowledge (TREK), started in 2013, which will provide data on the under-explored central region near the Cariboo to exploration companies and lead to new mineral-staking activities.

Geoscience BC is an industry-led, non-profit society that works in partnership with industry, academia, government, First Nations and communities to attract mineral and oil and gas investment to B.C. through the collection, interpretation and distribution of geoscience data.

Geoscience BC data directly contributed to the discovery of a new ore zone, leading to the expansion of the Huckleberry Mine, which employs 250 workers near Houston, and extending its mine life to 2019. Yesterday, government announced new economic and community development agreements (ECDAs) that will enable four First Nations in the Bulkley-Nechako area to receive a share of mineral tax revenues collected by the Province from the expansion.

In Northeast B.C., water monitoring and sourcing projects by Geoscience BC have led to significant natural-gas opportunities and resulted in more than $100 million in industry investment in infrastructure for sustainable water use.

The Government of British Columbia founded Geoscience BC in 2005, and since that time has provided more than $50 million in funding. In June 2013, government committed to working with Geoscience BC to establish long-term funding for the society and the $3 million announced today will provide ongoing support to the society while this work continues. B.C. is the only province in Canada that uses an organization such as Geoscience BC to assist in the delivery of public geosciences.

Quotes:

Bill Bennett, Minister of Energy and Mines and Minister Responsible for Core Review –

“We are committed to working with Geoscience BC, industry, communities and First Nations to ensure B.C.’s mining industry continues to grow. The data provided by Geoscience BC will lead to new discoveries and support new investment and economic activity.”

Steve Thomson, Minister of Forests, Lands and Natural Resource Operations –

“Further to the commitment in my June 2013 mandate letter, I am pleased to have funding extended to Geoscience BC. Geoscience BC’s research activities have helped grow the mining sector and diversify the economy – especially in areas impacted by the mountain pine beetle.”

Rich Coleman, Minister of Natural Gas Development and Minister Responsible for Housing –

“The Province is ensuring that we have a responsible oil and gas sector. The research conducted by Geoscience BC assists with safe exploration activities and water management, and helps industry implement the best practices available for natural gas exploration.”

Robin Archdekin, president and CEO, Geoscience BC –

“In this time of financial restraint, the government has shown an ongoing support of Geoscience BC and the continued delivery of programs focused on attracting investment in British Columbia. The funding will be put toward new projects that contribute to the public geoscience framework to promote B.C.’s minerals and oil and gas exploration and development sectors.”