Israeli Diamond Industry Portal Reports : Canada Budgets C$100 Million for Geological Mapping.

PRLog (Press Release) – Mar 11, 2008 – Canada’s Natural Resources Minister Gary Lunn told the delegates at the PDAC convention last week in Canada that the federal government will allocate C$100 million over the next five years for geological mapping. According to Mining Weekly, he noted that 75% of this amount will probably be spent in the northern regions of the country.

Lunn underscored the direct link between investment in geoscience and the growth of Canada’s mining sector.

He stated: “For every dollar we invest in geoscience, it attracts five dollars from the private sector in exploration, and over C$125 that are discovered in mineral resources. So I think it is a very, very good investment.”

In an effort to streamline efficiency, last week Canada’s major projects management office was opened. The office will serve as a one-point entry for large project developers interested in acquiring authorization from the various relevant government agencies.