Less than half of the discoveries made since 1950 have turned into mines so far, Richard Schodde, managing director of Melbourne-based MinEx Consulting, said at the annual Prospectors and Developers Association of Canada's (PDAC) convention in Toronto.
Schodde reviewed 3,500 significant gold, base metals and uranium discoveries made around the world between 1950 and 2013 and found only 45% of them have been developed into mines.
That conversion rate, Schodde says, depends on several factors, including …
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