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In 2017 global exploration budgets increased ( up 15 % from 2016 , the lowest exploration spend since 2005 ), an uptick that will continue into 2019 . Growth and development are back on the agenda . The structure of who is leading exploration has shifted , with majors being responsible for the uptick as they struggle to build their pipeline of future growth , in many cases with decreasing grades and ore depletion in current operations . As this trend accelerates , there will be more competition for key resources and it ’ s key that miners maintain a disciplined approach to their exploration strategy . Agustin Costa , Partner at The Boston Consulting Group

NOVEMBER 2018