By Sean DeCoff | 14 November 2018
The following article is an abstract of the 2018 Corporate Exploration Strategies publication which reviews exploration budget trends of mining companies worldwide.
Copper exploration budgets increased by 22% year over year in 2018, surpassing the global average increase of 20% for all nonferrous commodities. Using data compiled as part of the Corporate Exploration Strategies series, S&P Global Market Intelligence identified 443 companies budgeting a total of US$2.07 billion for copper exploration, compared with 397 companies budgeting US$1.70 billion in 2017. Correspondingly the average spend per company also rose, by almost 10%, to US$4.7 million.