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Junior and Intermediate mining companies have almost quadrupled their funds raised to US$1.61 billion in October 2024, the highest since March 2022.
According to new data from S&P Global Market Intelligence, a significant increase in transactions and high-value financings reversed declines in September.
Gold companies saw the largest increase:
- increasing 412% to $1.02 billion in October
- financings increased 177 from 101 in September
- number of significant financings more than doubling from 22 to 59; two transactions were valued at more than US$50 million
Base/other metals group increased:
- up 150% to US$411 million, the highest in 6 months
- copper fundraisings increase 260% to US$311 million
- number of transactions increased from 66 to 70; two transactions were valued at more than US$50 million vs one in September
The increase in investment and an increase of drilling results has helped push activity in the mining sector up in October, 2024. The S&P’s Pipeline Activity Index (PAI) — used to measure the level and direction of activity across the mining industry — rose 45% from September, its highest level in a year.
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