MEG's world exploration trends in 2011

摘要

Responding to rising metals prices and more stable markets, most mining companies increased their exploration budgets in 2010. The result was a 45% increase in estimated worldwide nonferrous metals exploration spending compared with 2009. Metals Economics Group's (MEG) 21st edition of Corporate Exploration Strategies (CES) reports a 2010 exploration budget total of US$11.2 billion. The industry restored almost two-thirds of the US$5.5 billion that was cut from exploration in 2009 in response to the global financial crisis. The speed and the strength of the 2010 rebound were a welcome surprise to many, given the severity of the downturn and widespread forecasts of a deep and protracted recession.