The average lead time for mines has significantly increased, now reaching 17.8 years for those that became operational between 2020 and 2024. This duration is nearly three times longer than the lead time for mines that began operations from 1990 to 1999. Extended periods for exploration, permitting, and financing have greatly contributed to these longer timelines. We analyzed 20 non-operating mines undergoing feasibility studies and estimated their startup dates. The lead time for these assets has surged to 28 years—almost five times the lead time observed in the 1990s. The prolonged phases of exploration, permitting, and studies, along with the extended waiting period between feasibility studies and construction, have further increased lead times during this period. This information is part of our research offerings that can help industry professionals understand current trends and challenges, enabling better planning and investment decisions. Source: S&P Global