Global mining sector ended 2014 on a disappointing note: report – Mining.com

January 21, 2015

Despite global mining activity showing steady signs of improvement last year, 2014 ended largely on a disappointing note for the exploration sector, the latest study by SNL Metals & Mining published Thursday shows.

Depressed metal and oil prices are still weighing heavily on global exploration spending, with SNL Metals & Mining’s Pipeline Activity Index (PAI), which monitors the health of the sector, receding in December for the third consecutive month.

By the end of 2014 the mining industry’s combined market capitalization was estimated in a bit under US$1,300 billion, compared with over US$1,343 billion at the end of November and more than US$2,000 billion back in February 2012, the firm says.