Cesar Pastrana

Global nonferrous exploration budgets declined again in 2024. Grassroots and late-stage exploration budgets decreased 8% and 5%, respectively, while minesite exploration increased a modest 2% year over year. Reductions to gold budgets negatively impacted both early- and late-stage allocations, while rising budgets for minesite copper, gold and lithium contributed to the growth in minesite exploration.