Africa exploration budgets underperform, increasing only 14%

By Anna Lea Lim | 15 January 2019

Though Africa is the second-largest continent and a significant producer of almost every minable commodity, allocations to Africa increased only 14.1% to US$1.28 billion in 2018. Global growth in budget slowed down, but at 19.6% still outpaced the 14.1% increase. This growth caused Africa's share of global allocations to drop to 13% in 2018 from 14% in 2017 and to the fifth spot from the third as Australia and Canada surpassed Africa for regional allocations.

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