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| Exploration in Latin America |
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Recent reports from the Metals Economics Group (MEG) indicate that during 2007 US$ 9,999 million dollars were spent in mining exploration worldwide. This represent the fifth consecutive year of increased expendi-tures in this exploration as well as an all-time high since the MEG started keeping track of investments in mining exploration in 1989.The same source states that since 1994 Latin America |
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The same source states that since 1994 Latin America has been the most popular destination for minerals exploration. In fact, only in 2007, the region received US$ 2,400 million dollars, which represent 24% of all exploration dollars expenditures. 83% of this total went directly to the five favorite exploration countries: Mexico, Brazil, Peru, Chile and Argentina.If to this we add that Canada represented 19% of the exploration dollars, and the United States about 7-8%, it is easy to see that North America -as a continent- has a clear leadership in mining exploration, worldwide. So far, the trend shows that all mining companies have increased their ex-ploration budgets, although the Junior companies continue to lead the pack with a 909% increase since 2002, the year the exploration boom began.
A very specific exploration district is the southern Los Andes mountain range, especially Argentina, Chile and Peru. Each with different features these coun-tries offer ample opportunities for the discovery of new mineral deposits. Fo-llowing the leaders are Brazil and Mexi-co, countries that also shine with their own light in the exploration develop-ment panorama.
This is not only the reflection of the extraordinary geological endowment of the region but also of the stability Latin America has achieved in social and institutional matters in the last 15 years or so, as well as economic growth that has accelerated significantly in the last five years. This new edition of LATINOMINERIA show a portion of the wide minerals potential of this territory, starting from the Mexican border with the United States all the way down to the far south of the Andes range. Thus, opportunity awaits for all those involved: mining houses can benefit of these good conditions and the countries involved can further their eco-nomic progress with the new income to be generated from the develop-ment of their abundant mineral resources. |
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