INFOGRAPHIC: Japan’s debt crisis

The cautious outlook comes as global exploration budgets for nonferrous metals declined by 3% in 2024 to $12.5 billion from $12.9 billion last year, with juniors bearing the brunt of the cuts.

The heavy metal’s spot price fell to $76.56 per lb. this week, down from a 17-year high of $106 per lb. in February.

The world’s largest zinc smelter has been caught up for months in a fight between its largest shareholders over strategy and direction.

Adaro is spinning off the coal mining unit valued at $2.45 billion to focus on developing cleaner energy, with an aluminum smelter being built in Kalimantan.