“Non-ferrous metal exploration budgets are at historic highs, which is very favorable for these companies,” Zimnisky said.
Since 2008 through the first half of 2012, metal prices have been on the rise, with copper up 263%, gold 224%, iron ore 204% and nickel 164%.
The mining services sector has also experienced greater consolidation as large players begin to expand into the area. In 2012, General Electric (NYSE: GE) announced that it will create the GE Mining unit, which will buy mining equipment and service companies. Capterpillar Inc (NYSE: CAT) is also expanding to mining ventures after purchasing equipment maker Bucyrus International last year for $8.8 billion.
For more information on miners, visit our metals & mining category.
Max Chen contributed to this article.