By Christopher Galbraith | 01 February 2017
Exploration budgets allocated to Canada in 2016 totaled US$971 million — US$214 million less than in 2015. This represented a fall of 18%; however, the decline was less than the global average decline of 21%. The 2016 total budget was a 12-year low for the country, down 70% from the 2012 high of US$3.24 billion. There were 400 companies budgeting for exploration in Canada in 2016 — 14% less than the 464 companies with budgets in the previous year.