The global exploration budget for nonferrous metals decreased by 3% last year, halting a two-year rebound in the exploration sector.
This is according to S&P Global Market Intelligence’s ‘World Exploration Trends’ report, released on Sunday at the Prospectors and Developers Association of Canada (PDAC) convention in Toronto.
The report found that the global exploration budget for nonferrous metals decreased to an estimated $9.8-billion in 2019 from $10.1-billion in 2018.