[Infographic]: 2021 World Exploration Trends

The newly released 2021 global exploration budget from our annual Corporate Exploration Strategies series shows that the mining exploration sector has emerged from the downturn caused by the COVID-19 pandemic. The aggregate annual global nonferrous exploration budget has increased by 35% year over year to $11.2 billion from $8.3 billion in 2020. Driven by higher metals prices, increased financing activities and the decline of pandemic-related shutdowns, the exploration sector recovery was faster-than-expected.

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