In the recently concluded ... 85 The Canadian Exploration and Development Conference (PDAC) Up, S&P Global Market Intelligence ( Predecessor SNL Metals and Mining ) Released 2017 Annual Global Exploration Trends Report.

　　 SNL The report covers the following types of minerals: gold and base metals. ( Mainly includes: copper, zinc, nickel, ) Diamonds, uranium ore, platinum-group metals, and other solid mineral resources ( Mainly includes: lithium, silver, and potash. ) , excluding coal, iron ore, oil, natural gas, and the like.

　　Global exploration spending continues to decline.

　　2017 The year is expected to see prices stabilize or stop declining.

　　2016 This year, the global exploration investment budget continued to... 4 The downward trend of the year, according to SNL Metals and mining companies to 1580 Statistics of a mining company , Annual budget for non-ferrous metal exploration investments 68.9 hundred million dollars, compared to 2015 Decreased annually 21% , only 2012 Peak of the year 1/3 Considering that these mining companies account for a significant portion of the global investment in exploration for non-ferrous metal minerals. 95% Therefore, SNL The estimated global investment in exploration for non-ferrous metal mineral resources is 72 hundred million dollars.

　　By observing and comparing with the past 20 Annual global budget for non-ferrous metal exploration and SNL The relationship between industrial metal price indices typically shows that the trend in exploration expenditures aligns with, yet lags behind by one year, the trend in price index changes. 2016 Year, SNL The industrial metals price index has shifted from declining to rising, which means... 2017 The global budget for solid exploration investments in the year is 2017 The year is highly likely to see a turning point, though growth will remain slow. With the economic situation still in a wait-and-see mode and the mining industry as a whole continuing to face tough times, most companies will allocate their exploration budgets to lower-risk brownfield projects. (brownfields) upward, until the economic situation fully improves. Although large companies’ exploration investment budgets are... 2017 Annual growth may be gradual, but exploration spending by junior exploration companies could still decline. Based on the above analysis, we adopt a cautious judgment. 2017 The global budget for exploration of non-ferrous metals may stabilize after declining, and with... 2016 Year-on-year flat.

　　Latin America is the largest exploration destination.

　　Canada's most popular

　　2016 The budget for exploration investments in non-ferrous metals across all global regions has shown a downward trend. Latin America accounts for a share of... 28% Continue to maintain the status of the primary exploration destinations, among which the exploration investment budgets for Chile, Peru, Mexico, Argentina, and Brazil account for the majority in Latin America. 92% Gold remains the region’s favorite, accounting for a significant portion of the total investment budget. 42%。

　　Canada remains the world’s most popular exploration target country, accounting for a significant share of the global exploration budget. 14% Among them, Ontario ranks first, accounting for the entire country. 23% , followed by the proportion of Quebec. 19% Gold is also Canada’s most popular mineral resource, accounting for a significant portion of Canada’s total exploration budget. 50%。

　　Africa is the world’s second-largest exploration destination, after Latin America, accounting for a significant portion of the global budget allocated to exploration. 13% primarily concentrated in the Democratic Republic of the Congo, South Africa, Burkina Faso, Mali, and Tanzania.

　　2016 The proportion of Australia's exploration expenditure budget from... 2015 of the year 16% Fall to 13% Western Australia remains Australia's most popular exploration destination, accounting for a significant portion of the nation's exploration budget. 62% The popularity of gold has risen significantly, from 2015 of the year 48% Rise to 57% However, the proportion of exploration investment allocated to other base metals has declined significantly, leading to a drop in the overall share of exploration investment in Australia.

　　Gold remains the most favored.

　　Gold remains the most important mineral for exploration, accounting for the largest share of the global exploration budget. 48% , higher than the previous year 3 percentage points, and with 2011 The proportion at the year's peak remained unchanged. Although the share increased, the total amount of investment declined. 2006 the lowest level since the year, with only 33 hundred million U.S. dollars. Proportion of base metals 31% , the proportions of diamonds and platinum group metals are both 4% , Other proportions 12%。