It looks promising to the global mining activity as presented by in the latest study by SNL Metals & Mining. Although slow, the recovery path has already shown showed steady signs of improvement for the first half of the year. According to the Pipeline Activity Index (PAI) – one of the most trusted indicators of the global exploration sector’s overall health – recovery was driven mainly by improved numbers of positive milestone announcements – including several new mines coming onstream.
The industry’s aggregate market cap improved for the sixth month in a row, reaching $1.75 trillion, a 20% increase over December 2013 and the highest level since January 2013. The number and value of positive milestone announcements increased significantly in May-June from the lows seen in the first four months of 2014. The in-situ value of advancing gold announcements was considerably higher than in the March-April period, including production starting at several mines. Base metals announcements also increased over March-April; however, the number of advancing base metals project remained well below historical averages.
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Camilla G.//SMC Editor
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