Global
Africa back
on the exploration map
According to an
article by S&P
Global Market
Intelligence,
explorers in Africa
ramped up their
efforts in 2017
after four years
of diminishing
spending.
M
ining companies
allocated about
Exploration budgets by region, 2008–2017 (US$M).
USD1.09-billion
to the Africa region for
Gold’s share of Africa
nonferrous metals exploration
in 2017 — an increase of almost 18% spending is up
Gold, base metals, and the ‘other
over the USD924-million budgeted
targets’ category remained the region’s
in 2016, compared with an average
top exploration targets year over year.
global increase of 14%. The region’s
Although African gold budgets declined
share of the global budget was up
between 2012 and 2016, they followed
almost 3% year over year to just
the global trend of resurgence in 2017,
under 14%, ranking it more or less
rising 39% to USD659.4-million —
equally with Canada and Australia.
almost 61% of the region’s all-metals
Data gathered for S&P Global
budget. Allocations for second-place base
Market Intelligence’s Corporate
me