Newly released 2020 global exploration budget data from S&P Global Market Intelligence shows that exploration sector optimism that began to appear in the second half of 2019 was snuffed out by COVID-19, resulting a second year of decreased nonferrous budgets of 11% to US$8.3 billion in 2020.
This analysis is based on our survey of 2,500 public and private companies.
Discover how mining companies allocate their exploration resources amid COVID-19 by commodity, location, development status and company type.
Infographic: 2020 Global Mining Exploration Budget Trends
Explore our 2020 global exploration budget datasets.