Thank you very much.
The Prospectors and Developers Association of Canada represents 6,000 members, including 5,300 individual and 700 corporate members. The majority of our corporate members are small and medium-sized enterprises—in our lingo, called junior exploration companies. Our members are engaged in the exploration and development of mineral resources here in Canada and abroad.
It is important for you to know that mining accounts for 4% of Canada's GDP, more than agriculture, forestry, fishing, and hunting combined. Since 1980, known cooper reserves have declined by 65%, and zinc reserves have decreased by 80%. Most exploration is carried out by juniors that are dependent on our capital markets for funding. Sustaining the mineral exploration industry in Canada offers great potential for the creation of wealth and prosperity for all Canadians, especially for those living in Canada's north and in other rural and remote regions of the country.
The mineral industry is the largest private sector employer, offering excellent employment and business development opportunities for our aboriginals and first nation peoples.
To replenish reserves is vital. It is vital that we invest in geoscience and continue to support exploration activities. Investment in geoscience is critical to successful exploration and the discovery of new mines. The north, which has the highest potential for new discoveries, has large tracts of land that have never been adequately mapped. Such activities would reaffirm Canada's sovereignty of the north. We are specifically asking for support for the cooperative geological mapping strategies program, which will trigger significant provincial and territorial investment.
In regard to support for exploration, we want to recognize the reinstatement of the super flow-through program to March 31, 2007, and ask that the program known as the mineral exploration tax credit be renewed for a three-year period. This will help the junior exploration sector compete for investor interest, keep exploration investment in Canada, and raise the potential for new mine discoveries in this country.
Finally, we ask for the recognition of community consultation and environmental baseline costs as eligible Canadian exploration expenses, so that these essential activities can be financed through flow-through funds.
Challenges or barriers to exploration investment in Canada include the lack of infrastructure, complex regulatory regimes, and the uncertainty of mineral title due to unresolved land claims.
A vibrant exploration industry will enhance the opportunity for discovery of new mineral resources that when developed will create new jobs, provide training and skill development opportunities for youth, generate revenues, and increase the local tax base to support communities.
Thank you for your attention.