Global exploration to hit record high

DESPITE tough times for markets and capital raisings, global non-ferrous metals exploration is expected to reach an all-time high of $US21.5 billion ($A20.6 billion) this year.

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SNL Metals Economics Group’s 23rd Corporate Exploration Strategies estimated that exploration budgets for 2012 rose by $3.3 billion, or 19%, over 2011.