Halifax, Nova Scotia (PRWEB) March 02, 2014
The latest World Exploration Trends report from SNL Metals & Mining reveals that all company types cut their exploration activity sharply in 2013 in response to lower metals prices, uncertain demand, and poor market conditions. The result was a 29% decrease in estimated worldwide nonferrous metals exploration budgets compared with 2012.
SNL Metals & Mining’s 24th edition of Corporate Exploration Strategies (CES) shows that the mining industry’s total budget for nonferrous metals exploration was US $15.2 billion in 2013, significantly lower than the record US $21.5 billion total in 2012. The steep plunge in exploration budgets was due to a combination of investor wariness of the junior sector that made it difficult for most companies to raise funds, and a strong pullback by producing companies on capital and exploration spending to improve their margins.
For the full report detailing additional exploration trends, please contact Christina Twomey at ctwomey(at)snl(dot)com.
Attendees of PDAC conference are encouraged to visit the SNL Metals & Mining booths 115 and 616 on the main trade show floor. Glen Jones, our Director of Metals & Mining Database, will be presenting on the Mexico State of the Market in the Mexico Mining Seminar on Sunday, March 2 from 12:00 - 4:00pm. Registration is required.
For more information contact SNLInfo(at)snl(dot)com, or call +1 (866) 296-3743 (Americas); +44 20 7398 0873 (Europe, Africa & Middle East); +852 5808 1882 (Asia-Pacific).
SNL is a leading provider of financial information on more than 6,500 public companies and 50,000 private companies in the business sectors critical to the global economy: Banking, Financial Services, Insurance, Real Estate, Energy, Metals & Mining and Media & Communications. The SNL information service integrates breaking news, comprehensive data and expert analysis into an electronic database available online and updated around the clock.
About SNL Metals & Mining
SNL Metals & Mining is the most trusted source of global mining information and analysis. We draw on more than three decades of comprehensive information and analysis, with an unsurpassed level of experience and historical data. To help our clients reach better decisions more quickly, we supply raw data and sophisticated analysis based on unbiased research, reporting and consulting. From worldwide exploration, development, and production to strategic planning, M&A activity and more—our databases and studies help you make confident decisions and, ultimately, improve results.