Exploration spending up; MEG report released at PDAC finds all-time high spending in 2011

摘要

THE METALS Economics Group (MEG) released its annual exploration report, "Corporate Exploration Strategies (CES)" in partnership with the Prospector's and Developers Annual Conference (PDAC) in Toronto, Canada, March 4-7. The report found that the rebound in exploration spending by the global mining industry is still going strong, with the largest gains in gold exploration.Despite some periods of weakness and volatility in metal prices, the report found almost all companies have increased their exploration budgets over the past two years. As a result, the industry's aggregate exploration total increased 44 percent in 2010 and 50 percent in 2011 to a new all-time high of $18.2 billion. This is more than double the low of 2009, $8.4 billion.