SNL Metals & Mining Report Finds That Global Metals Exploration Stalled in August

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In its relaunched "Monthly Industry Monitor" report, SNL Metals & Mining warns that a disappointing exploration performance in August means that the industry has not yet broken out of an almost three-year downward trend.

SNL, Metals, mining, pipeline activity index, PAI, exploration sector,

Exploration stalls in August

It is still too early to start celebrating a recovery in the sector.

Announced today, in its latest study on the exploration sector, now relaunched as a monthly report and renamed "Monthly Industry Monitor," SNL Metals & Mining concluded that, despite the overall improvement in global metals exploration since April, it is still too early to start celebrating a recovery in the sector.

SNL Metals & Mining monitors the health of the international exploration sector through its Pipeline Activity Index, or PAI. The index had fallen from over 130 barely two years ago to an all-time low of 40 in April. Since then, there had been an overall improvement — until August, when the PAI went into reverse.

The PAI is a measure of activity in the metals supply pipeline and incorporates four important stages into a single comparable index: significant drill results, initial resource announcements, significant financings and project development milestones. It was set at a baseline of 100 points when it was established in May 2008.

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Christina Twomey
SNL Financial
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