Mining Review.com reports that mining companies that shift their focus from productivity to an integrated approach that restores Greenfield exploration will come out ahead the report notes.
From 2010 through 2013, the annual number of discoveries (excluding bulk commodities) declined by more than half, even after adjusting for discoveries yet to be drilled out. The number of giant discoveries dropped to only one or two per year. The sharp decline in discoveries has occurred despite a period of significant increases in exploration spending. At the height of the recent resources boom, average annual exploration expenditure grew by almost 40% to record levels. READ MORE