Global spending on the search for nonferrous metals deposits rose to an estimated $8.4 billion in 2017, up from $7.3 billion in 2016, according to a report released by S&P Global Market Intelligence at the 2018 Prospectors and Developers Association of Canada Convention in Toronto. It was the first annual increase in exploration spending after four consecutive years of declines. Although an improvement over 2016, the 2017 total remained far short of the record high $21.5 billion estimated exploration spend in 2012.
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