2019 mining exploration budget recovery falters for the first time since 2016

For the first time since 2016, global nonferrous exploration budget decreased due to difficult market conditions and high-profile M&A activity.

Estimated global nonferrous exploration budget falls 3% year over year to US$9.8 billion from US$10.1 billion in 2019
Merger & acquisition activity in the mining sector is the key driver of budget reductions
Base metals outpace gold as explorers decrease their gold budget by US$559 million year over year to US$4.29 billion — the largest decrease for any commodity
Australia attracts largest budget increase, to surpass Canadian budget for the first time since 2001

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