World Exploration Trends Report

S&P Global Market Intelligence, World Exploration Trends Report.
According to S&P Global Market Intelligence’s study, global exploration budgets have increased 35% to $11.24 billion in 2021 from $8.35 billion in 2020.
Demand recovery, strong metal prices and easing lockdowns pushed exploration budgets higher. The total number of companies actively exploring grew 10% in 2021 to 1,948 companies.
Funds raised by junior and intermediate companies increased 78% in 2021. .
Gold exploration budget has the biggest increase amongst all commodities, up by 42% in 2021.
Specialty metals’ share increased by 28% from 18% in 2020, dominated by renewed interest in lithium and rare earth elements, with lithium prices at new highs.
Grassroots exploration budget increased 45% year over year to $2.91 billion in 2021. It was the largest percentage increase since 2011.
Canada’s exploration budgets rose 62%, or $799 million, year over year to $2.09 billion, a nine-year high. This was the largest gain in both dollar and percentage terms among the regions.
For more vital insights, read our 2022 World Exploration Trends report. Access the report now