Mining giants starting up exploring again, preparing for upturn

Sydney

AFTER years of cutting budgets and squeezing existing mines, global mining giants are again scouting for new deposits: industry analysts say 2017 will see the first increase in spending on exploration in five years.

Exploration spending came under pressure when commodity prices tumbled and investors pushed miners to be less profligate, especially on large new projects and in untested locations.

Spending last year was…