The Vancouver Sun reports in its Tuesday edition that spending on mineral exploration in British Columbia hit a record high in 2012 for the second year in a row, surpassing $680-million. The Sun's Gordon Hamilton writes the uptick comes despite a worldwide slowdown in venture capital spending that many expected would affect the province's mining sector. Premier Christy Clark announced the record spending -- a 47-per-cent increase over last year's record $463-million -- Monday at the annual Vancouver convention of the Association for Mineral Exploration in B.C. The 2012 numbers are viewed by the industry as a sign of what lies ahead for mining in B.C. and Ms. Clark's announcement was welcomed by convention delegates at the Westin Bayshore. "I run a public company and I know how difficult it is go out there and raise money, particularly for new projects," said Michael McPhie, chief executive officer of Curis Resources. "To get that level of spending at a time when the world economy is in such a great amount of turmoil and there is such a tepid nature in the investment business, really speaks volumes to B.C.'s position as a global centre for exploration and mining. It bodes really well."