IIR: More Than $1 Trillion Has Been Invested in Mining Projects Worldwide

According to Mining.com, IIR, Industrial Info Resources' latest tally of 4,789 metal and mineral projects (including mining, washing and smelting) currently under construction around the world puts total investment at $443 billion. Another 10,586 projects are being planned and designed. Global investment in mining projects totals about $1.11 trillion.

Projects delayed by the pandemic are being restarted, up 8% year over year, according to Joe Govreau, a vice president at IIR. Mining projects, ranging from early exploration to mine construction, account for half of all mining projects.

Investment by the world's seven largest mining companies is up more than 50 per cent from its 2017 trough. "There is no reason for mining companies to stop investing over the next few years as they ramp up production to meet the demand growth that comes with the energy transition," Goffro said.