Global exploration budgets increase for first time in five years, led by gold reports that the nonferrous mining exploration sector has shrugged off its recent protracted downturn, with analysis showing a rise in exploration budgets.

Analysis on exploration by S&P Global Market Intelligence shows a rise in budgets of more than 14% year over year to US$7.95 billion in 2017 — the first increase in the annual global nonferrous exploration budget since 2012.