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Irish eyes smile amid exploration gloom

If 2013 was tough for explorers, 2014 was positively unkind as companies’ exploration budgets were squeezed to the max and financing became increasingly hard to come by. According to data gathered by SNL, global exploration budgets for non-ferrous metals fell some 26% in 2014 to US$11.4 billion – a far cry from the record $21.5 billion in 2012.

Ruth Green

Despite its strong mining roots, Europe – excluding Russia – attracted just 4% of 2014’s global spend as majors continued to chase the emerging markets in a bid to get more bang for their buck. After...

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