A turning point for exploration
By Elizabeth Fabri GLOBAL mining exploration expenditure has taken a dive for the fourth consecutive year, accounting for less than a third of the record-high 2012 spend and reaching an 11 year low. In its March Worldwide Mining Exploration Trends report S&P Global Market Intelligence stated the budget for nonferrous exploration in 2016 declined 21 per cent year-on-year to $US6.89 billion; however, it said the past three quarters have brought “signs of optimism” for the long struggling industry. “Since last March, exploration companies have increasingly been able to raise funds, which represents a marked improvement over recent years,” the report stated. “Despite recent concern over the availability of finance as we enter 2017, S&P Global Market Intelligence is cautiously optimistic…