Annual exploration budget trends analysis built on S&P Global survey with over 2,160 companies globally, backed by 28 years+ of exploration budget data and research insights.
Record gold prices are reshaping exploration decisions — and 2025 marked the first gold exploration budget increase in three years. Gold exploration budgets rose 11% to $6.15B, representing nearly 50% of the global non‑ferrous exploration budget. But the headline growth hides a critical shift: spending remains biased toward lower‑risk, near‑mine projects, while grassroots exploration fell to a new record-low share of 19%. In the report gold-exploration-trends-2026, you’ll find:
- Where budgets are concentrating by company type
- How “near‑mine” exploration accounted for more than half of 2025 gold budgets
- Regional signals for exploration investment
The report flags a structural concern—without stronger early‑stage investment, the industry risks a future supply gap that could increase volatility and constrain growth.
Gain a clear view of the forces shaping gold exploration trends in 2026.
Gold exploration trends view from the full report.
