A new report released by law firm Berwin Leighton Paisner (BLP) revealed that more than $1.76bn of private equity (PE) funds were invested in equity in global mining projects during the first half of 2015.

There were also 61 reported investments during this period, which represents an increase compared to a total of 50 reported in 2014.

In 2014, more than $2bn was invested and the momentum has continued into the first half of this year.

It was found that one in six of the investments in the sector involved refinancing or rescue due to declining commodity prices and tough equity markets for commodity companies.

"If the trends we have seen continue throughout the rest of the year, then we will see nearly double the amount invested in 2015 compared with 2014."

Nearly 21% of investments were also coupled with exposure to the commodity which suggests that equity returns alone are not sufficient for PE funds in these markets.

In North America, 12 investments were made in Canada-based companies and a further 11 into the US.

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The number of deals signed in Africa, South America and Australia increased, according to the report.

During the first six months of 2015, Europe witnessed the largest deal amount with four deals totalling more than $1bn, an increase from $173.2m in 2014.

The report also found that in the first half of 2015, 29 investments in gold were already made, an increase from 15 in 2014 followed by copper with eight investments.

In 2015, six nickel-related deals were made, replacing coal in the top three deals.

BLP mining partner and co-head Alexander Keepin said: "The data shows that even with the commodity market in flux, the momentum which began in 2014 has continued into the first half of 2015 with over $1.76bn of private equity funds being invested.

"If the trends we have seen continue throughout the rest of the year, then we will see nearly double the amount invested in 2015 compared to 2014."