Mining Journal Intelligence
Investor Sentiment Report 2024

of investors said their mining positions performed below or well below expectations in 2023

expect better in 2024

are looking to invest in base metals this year

Most mining investors plan to maintain or expand positions in the sector in 2024 despite disappointing returns last year.

Most mining investors plan to maintain or expand positions in the sector in 2024 despite disappointing returns last year, according to Mining Journal Intelligence’s (MJI) Investor Sentiment Report 2024.

The report, now in its seventh year, highlights investors’ intentions relating to the mining industry in the year ahead, as well as trends in 2023, based on a survey completed by more than 120 investors.

While more than 60% said their mining positions performed below or well below expectations last year, 69% expect better in 2024 – and 87% are planning steady or growing investment in the industry.

The survey also revealed investor preferences in terms of target commodities, asset maturity, and world region. The results suggest that a development-stage, base metals asset in Canada would be likely to attract the biggest investor interest this year.

The survey was run from mid-October to early December, targeting investors within Mining Journal’s networks and those of sister publications in the Aspermont stable, including Miningnews.net.

This year’s survey attracted responses from 127 investors – up more than a third from 93 the previous year, and from 72 in 2022.

Similarly to previous years, retail investors made up the bulk of respondents, with a roughly 70:30 percentage split between retail and institutional investors. In the 2023 survey, the split was approximately 80:20.

Most were smaller investors, with those with assets under management (AUM) of up to US$50 million making up about 87% of respondents (4.7% managed assets of more than $1 billion).

The 127 participating investors held total assets worth more than $11 billion, based on midpoint assumptions.