"Industry estimates that exploration investments, in excess of...

"Industry estimates that exploration investments, in excess of $100 million, are required to discover and develop a new mine. On average, a prospect will reach development stage 10-15 years after discovery and often much longer. Mines currently in production, or in the environmental assessment process, are the result of successful exploration conducted years, often decades, ago."

The article is taken from a British Columbia Chamber of Commerce article from last year. The article in its entirety can be found at:

http://www.bcchamber.org/policies/mineral-exploration-investment-and-permitting