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Oct 20 2026
[Webinar] Corporate Exploration Strategies 2027
Overview
S&P Global Market Intelligence is organising a webinar titled “Corporate Exploration Strategies 2027” to examine recent changes in global metals and mining exploration. The session will analyse preliminary results from the Corporate Exploration Strategies series and discuss the factors likely to influence exploration activity during 2027.
Preliminary data indicates that global nonferrous exploration budgets increased by 33% in 2026, rising from $12.4 billion to $16.5 billion. Strong gold and copper prices, renewed investor interest and improved financing for junior companies supported the expansion, although geopolitical conflict, supply-chain pressures and inflation remain important risks.
Details
Webinar Information
Webinar: Corporate Exploration Strategies 2027
Organiser: S&P Global Market Intelligence
Research series: Corporate Exploration Strategies
Date: Wednesday, 4 November 2026
Time: 11:00 a.m.–12:00 p.m. EST
Format: Online webinar
Sector: Metals, mining and mineral exploration
Registration: Interested participants may register through the webinar link included in the original S&P Global Market Intelligence invitation.
Speakers
Kevin Murphy: Moderator and Director of Metals & Mining Research, S&P Global Energy
Aly Landry: Analyst—Metals & Mining Research, S&P Global Energy
Cesar Pastrana: Analyst—Metals & Mining Research, S&P Global Energy
Global Exploration Budgets
Preliminary findings: Initial results from the Corporate Exploration Strategies series indicate substantial growth in nonferrous exploration expenditure during 2026.
2025 exploration budget: $12.4 billion
2026 exploration budget: $16.5 billion
Annual increase: 33%
Primary driver: Renewed investor interest supported increased funding for mineral-exploration programmes.
Commodity support: Record or near-record prices for gold and copper encouraged companies and investors to increase exploration activity.
Investment cycle: Higher commodity prices can improve producer profitability and increase the capital available for new exploration.
2027 significance: The strength and distribution of 2026 budgets provide important signals about the exploration pipeline for the following year.
Gold Exploration
Record price movement: Gold reportedly exceeded $5,400 per ounce for the first time in January 2026.
Subsequent movement: Although gold prices later declined from their peak, they remained above $4,000 per ounce.
Investor interest: Elevated prices continued to attract investment into companies and projects associated with gold.
Producer margins: Strong prices provided established producers with high operating margins that could be reinvested in exploration.
Gold exploration budget: The amount allocated to gold exploration increased by 38% to $8.5 billion.
Historical position: The 2026 gold budget represents the second-highest total recorded without adjusting previous figures for inflation.
Future outlook: Continued strength in gold prices may support further exploration, subject to financing conditions and cost pressures.
Junior-Sector Resurgence
Large-company role: Major mining companies continue to account for a substantial share of global exploration activity.
Investor capital: A notable return of investment funding to smaller exploration companies occurred during 2026.
Junior explorers: Increased access to capital supported renewed exploration activity among junior-sector companies.
Budget recovery: Junior-company exploration budgets recorded a resurgence after periods of comparatively limited funding.
Discovery importance: Junior explorers frequently undertake earlier-stage and higher-risk work that can contribute to future mineral discoveries.
Financing sensitivity: Continued progress will depend on whether investor funding remains available during 2027.
Exploration Budget Trends
Commodity analysis: The webinar will identify which metals and minerals are attracting the greatest increases in exploration expenditure.
Geographical trends: Analysts will compare the regions and countries receiving increased exploration investment.
Project stages: The discussion will examine how budgets are distributed across early-stage exploration, advanced projects and existing mine sites.
Capital allocation: Budget patterns can indicate which commodities and locations the industry considers most promising.
Pipeline implications: The allocation of exploration funds influences the future supply of development projects and operating mines.
Discovery and Project-Pipeline Trends
Discovery performance: The webinar will consider how the number, size and quality of mineral discoveries are evolving.
Exploration effectiveness: Discovery trends help indicate whether increased spending is generating commercially meaningful results.
Project pipeline: New discoveries are necessary to replace depleted reserves and support future mine development.
Development time: Mineral discoveries commonly require lengthy assessment, permitting, financing and construction before production begins.
Supply significance: Weak discovery pipelines can contribute to future shortages even when near-term commodity production appears sufficient.
Drilling and Financing Activity
Recent drilling: Analysts will review changes in drilling activity across important commodities and exploration regions.
Operational indicator: Drilling activity provides evidence of how exploration budgets are being translated into work on the ground.
Financing conditions: The availability and cost of capital strongly affect exploration programmes, especially among companies without producing assets.
Junior-sector funding: The session will assess the recent recovery in funding for smaller exploration companies.
Market relationship: Commodity prices, investor sentiment and exploration results can all affect a company’s ability to raise additional funds.
Addition of Iron Ore
Expanded coverage: S&P Global Market Intelligence has added iron ore to the commodities covered by its exploration analysis.
Market significance: Iron ore is a central raw material for steel production and global industrial activity.
Broader perspective: Including iron ore provides a more complete picture of worldwide mineral-exploration expenditure.
Comparative analysis: Participants will learn how iron-ore exploration compares with spending on nonferrous commodities.
Outlook for 2027
General outlook: S&P Global Market Intelligence sees reasons for optimism regarding exploration activity in 2027.
Commodity prices: Prices for several core metals remain strong and continue to support industry investment.
Funding momentum: Investor financing remains variable but is currently sufficient to maintain exploration momentum.
Upside drivers: Sustained metal prices, producer cash flows, renewed junior financing and encouraging discoveries could support further growth.
Geopolitical risk: Continuing international conflicts may disrupt commodity supply chains and complicate exploration decisions.
Inflation risk: Supply-chain pressure and conflict can increase labour, equipment, energy and financing costs.
Economic recoil: Events that initially support metal prices may later weaken demand if they produce high inflation or slower economic growth.
Delicate balance: The 2027 outlook will depend on whether strong prices and investment can outweigh rising costs, geopolitical uncertainty and economic risks.
Participation and Contact Information
Intended audience: Mining companies, investors, analysts, exploration professionals, policymakers and participants in metals and commodity markets
Replay: The registration option refers to both the live webinar and a replay for registered participants.
Event enquiries: globalevents@spglobal.com
General enquiries: market.intelligence@spglobal.com
Further information: Complete registration, participation and webinar-access information is available through the link provided in the original S&P Global Market Intelligence communication.
Disclaimer: The information provided in this News Bulletin is for informational purposes only. The Learning Centre does not facilitate or provide recordings, additional data, access, or any other related information concerning the events/resources listed.
