May 01, 2018 | By Kevin Murphy
The following article is a snapshot of the Reserve Replacement Strategies: Major Gold Discoveries (1990-2017) publication by S&P Global Market Intelligence.
Although gold exploration budgets have fallen from a 10-year peak in 2012, spending on finding new gold ounces remains at historically high levels, with the US$54.3 billion allocated to gold exploration over the past decade almost 60% higher than the US$32.2 billion spent over the preceding 18-year period.
However, the increase in dollars spent has not yet resulted in more new discoveries or discovered ounces compared with the previous period: only 215.5 Moz of gold has been defined in 41 discoveries over the most recent 10 years, compared with 1,726 Moz in 222 discoveries in the preceding 18 years.
Gain essential insights into the declining trends of gold discovery rates.
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