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E-mailHalifax, Nova Scotia, 17 May 2011
According to Metals Economics Group (MEG), the Americas have dominated potential new precious and base metals mining discoveries over the last three years. Based on drilling activity reports of significant new intercepts, over half the total number of new finds and new zones in 2010 were in Latin America and North America. Australia holds a significant share of potential discoveries, as does West Africa with its developing gold exploration activities.
MEG defines a discovery as a significant deposit that has progressed to the point of a positive prefeasibility study or has obvious commercial value to be tracked from development to production. The discovery year is generally the year when the first hole was drilled in the deposit, which is why the initial drill results are referred to as “potential discoveries”.
Location of Potential New Discoveries by Region
Location of Potential New Discoveries in 2010
Source: Metals Economics Group Exploration Activity Service
Looking further down the future supply pipeline, MEG reports a clear decline in both initial resource announcements and the aggregate in-situ value of new resources over the past three years—a direct result of the lack of drilling during the industry downturn, from late 2008 through 2009. With the rise in drilling activity reported over the past year, and anticipated increases in 2011, MEG expects to see this trend turn upwards, possibly later this year.
“These results are of particular interest to suppliers and acquirers,” states MEG’s Vice-President, Research, Jason Goulden. “They serve as a preview of the where the next round of new resources is likely to come from.”
Metals Economics Group’s Exploration Activity Service provides a comprehensive view of junior and intermediate company growth and financing activities—the critical information and analysis you need to support and justify exploration, financing, and deal-making activities, as well as to monitor the environment for marketing and sales opportunities.
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For more information on the Exploration Activity Service, visit Metals Economics Group’s website:
