The newly released 2021 global exploration budget from our annual Corporate Exploration Strategies series shows that the mining exploration sector has emerged from the downturn caused by the COVID-19 pandemic. The aggregate annual global nonferrous exploration budget has increased by 35% year over year to $11.2 billion from $8.3 billion in 2020. Driven by higher metals prices, increased financing activities and the decline of pandemic-related shutdowns, the exploration sector recovery was faster-than-expected.
Get essential insights to our latest analysis of 2021 exploration budget trends:
- Budget trends by commodity, geography, development status and company type
- Actual spending VS budgeted allocations
- 2022 outlook on exploration
Source: S&P Global Market Intelligence. Images for display purposes only.
