North of 60 Mining News - The mining newspaper for Alaska and Canada's North

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By Shane Lasley
Mining News 

Mineral exploration spending on the rise

North of 60 Mining News – March 9, 2018


Last updated 9/24/2020 at 7:03pm

Gold exploration drilling greenstone belt Nunavut Canada

Daniel Murray; courtesy of Auryn Resources Inc.

Raising C$41 million early in 2017, including a C$35 million strategic investment by Goldcorp, provided Auryn Resources with the funding to carry out major exploration programs in Canada and Peru. This drill is testing the Anuri prospect on the company's Committee Bay gold project in Nunavut.

After four years of declines, global minerals exploration spending rose roughly US$1 billion in 2017 and is expected to see further growth this year, according to a March 5 report by S&P Global Market Intelligence.

The 1,535 companies that answered a survey put out by the research firm reported US$7.95 billion of investment in the search of nonferrous metals in 2017, a 14 percent increase from...

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