Miners Regain Mojo to Spark $18 Billion in Exploration Hunt
- Spending forecast to rise more than 75% through 2025: MinEx
- Discovery of world-class deposits has slowed in past decade
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A rebound in exploration by global miners could see spending hit $18 billion by 2025 with China the front runner in the search for a new generation of giant discoveries.
Exploration budgets are rising after they plunged to an 11-year low of about $10 billion last year as mining companies slashed costs in the wake of a collapse in prices, according to Richard Schodde, managing director of Melbourne-based MinEx Consulting Pty, an industry adviser.