Issue link: http://resourceworld.uberflip.com/i/107613
(not in my backyard) – who don't seem to like anything about the industry, or, for that matter, about most types of economic development that benefit the province, such as pipelines, ports, hydroelectricity lines and dams," he said. "They seem to be against everything and in favor of nothing." Another challenge for the industry is permitting. "The process of applying for and receiving permits needs more resources from the Ministry, especially in regards to dealing with First Nations," Schroeter said. On top of that, many people in BC don't understand how mining and exploration increase economic prosperity, which, in turn, makes life easier and better for all of us. "The people who do understand the importance of the role that mining plays need to speak up and get involved," he said. "There's a huge requirement for more and better advocacy in favor of mining and exploration projects." Schroeter says that many people in BC and the rest of Canada don't have an adequate understanding of the important role that exploration companies and prospectors play in the development of the mining industry. "Junior mining companies have played a very important role in exploring for new properties in BC and the rest of Canada since the 1970s," he said. "They have raised large amounts of money for high-risk ventures and, eventually, sold off their discoveries to the majors." However, says Schroeter, over the past several years, the financial markets have not been kind to juniors. "Many of their stock prices have declined significantly, and some people have even said that the junior sector may be close to death," he said. "This makes the role and importance of the big companies critical to the health of the whole industry. I think it's time for them to step up and, given their high profits because of record metal and coal prices, invest in the future [ie invest in junior miners]." In addition to these, Schroeter says mining and exploration in BC faces myriad challenges. They include engagement with First Nations, the shortage of skilled labor, the need to maintain consistent and transparent government policies on mining and exploration in the event of a change in provincial government; and foreign economic, political and natural disturbances, such as the continuing European debt crisis, the American fiscal cliff, the continuing recession, not to mention volcanic eruptions, earthquakes, floods and hurricanes. Schroeter says he is moderately optimistic about the future. "Right now I'd say I am guarded about the prospects for development and mining proposals in BC over the next five years," he said. Financings for junior companies are very difficult now, because of their extremely depressed stock prices. Cash is king at the moment. There have been predictions that between 30% and 50% of all currently-listed juniors will fall by the wayside over the next six to eight months if the investment climate doesn't improve. That's something for all of us to think about. n 2.5 km 62 www.resourceworld.com february 2013