Date: Dec 4, 2018
Mineral exploration expenditure in Australia rose by 2.5%, or A$14.3-million, to A$582.1-million in the September quarter, new data from the Australian Bureau of Statistics (ABS) has revealed.
Greenfield exploration increased by 13%, or A$25.7-million, while brownfield expenditure fell by 2%, or A$7.5-million, the ABS reported.
Metres drilled during the quarter rose by 5.8%, with drilling in new exploration areas rising 7.2%, and drilling in brownfield areas rising 5.8%.
Mineral exploration expenditure fell in New South Wales by 21%, in Victoria by 8.6% and in Tasmania by 17%, but rose in Queensland by 21%, in South Australia by 7.6% and in Western Australia by 3%.
“Mineral exploration is the lifeblood of the mining industry – greater exploration will lead to longer mine lives and future mines,” said the Association of Mining and Exploration Companies CEO Warren Pearce.
“The rise in exploration in Queensland and Western Australia lifted national mineral exploration, but masked falls in New South Wales and Victoria.”
