But there are others who blame low gold prices for fewer discoveries, while stressing that the world is not running out of gold. They say higher prices and technological advancements would help push miners to explore new frontiers for the precious metal, including the seabed and possibly even asteroids. Currently, Australia, Canada and the US absorb 40% of global spending on exploration. Miners could now potentially turn to riskier, less explored countries in Latin America and Africa. Mining majors have stayed away from exploring for greenfield mines over past decade, focusing instead on older, known deposits, the so-called brownfield projects.