Meaning of “prospecting” in the English Dictionary

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"prospecting" in Business English

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prospectingnoun [ U ]

uk /ˈprɒspektɪŋ/ us NATURAL RESOURCES

the activity of searching for gold, oil, or other valuable substances on or under the surface of the Earth:

Most of the prospecting so far has been conducted by an Australian mining engineer.
oil/gold prospecting
a prospecting licence/permit

(Definition of “prospecting” from the Cambridge Business English Dictionary © Cambridge University Press)