Fundraisings from international junior and intermediate companies more than doubled last month to $US334.8 million ($A413 million) according to the latest SNL Metals and Mining industry monitor.

A total of 32 financings were completed for the month, as some explorers cashed up for the coming season.

Despite the month-on-month increase, December’s total fell short of the $463 million raised 12 months ago and was the lowest December figure since SNL started tracking financings in 2008.

In other metrics, the combined market capitalisation of the mining industry for December came in under $1,300 billion compared to more than $1,343 billion at the end of November and over $2,000 billion back in February 2012.

There were drill announcements from 111 projects compared to 142 in November, but on the positive side initial resource announcements and completed financings both improved.

December is usually a quiet month for mining announcements, and SNL said while there had been an uptick in some areas the jump hadn’t been enough to offset the seasonal slump in drilling.

A total of four initial resource announcements were made in December with a total in-situ value of $11.79 billion.

That figure was mostly accounted for by NGEx Resources’ Filo del Sol copper project in Argentina.

The year ended with a total of 50 new resources valued at $130.6 billion compared to 68 and $87.1 billion in 2013.

Back on the financing side, the 2014 total of $5.55 billion in 329 financings was moderately short of the $5.92 billion in 399 recorded last year.

In other parts of the industry, SNL’s indexed metals price improved slightly in December to end a four month decline.

Despite the slight bump in prices, the net value of project milestones in 2014 came in at $501 billion compared to $645 billion in 2013.

“On an annual basis, the mining industry has just suffered its fourth consecutive year of declining net milestone values,” SNL said.