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8412.0 - Mineral and Petroleum Exploration, Australia, Sep 2007  
Previous ISSUE Released at 11:30 AM (CANBERRA TIME) 12/12/2007   
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NOTES

FORTHCOMING ISSUES

ISSUE (QUARTER) Release Date
December 2007 12 March 2008
March 2008 11 June 2008
June 2008 10 September 2008



CHANGES TO THIS ISSUE

There are no changes in this issue.



INQUIRIES

For further information about these and related statistics, contact the National Information and Referral Service on 1300 135 070 or Mark Busby on Sydney (02) 9268 4533.



SUMMARY COMMENTARY


MINERAL EXPLORATION (OTHER THAN FOR PETROLEUM)


TREND ESTIMATES

The trend estimate for total mineral exploration expenditure increased by $35.9m (7.4%) to $523.5m in the September quarter 2007. The estimate is now 38.4% higher than the September quarter 2006 estimate.

Mineral Exploration, Seasonally adjusted and trend series
Graph: Mineral Exploration, Seasonally adjusted and trend series



The largest contributions to the increase this quarter were in Western Australia (up $26.0m or 10.6%) and Queensland (up $5.5m or 7.4%). Victoria showed the only decrease of $0.3m or 1.6%.


The trend estimate for metres drilled increased by 1.6% this quarter. The current estimate is now 11.8% higher than the September quarter estimate for last year.



MINERAL EXPLORATION (OTHER THAN FOR PETROLEUM)


EXPLORATION EXPENDITURE

The seasonally adjusted estimate of mineral exploration expenditure increased by $62.7m (13.2%) to $539.3m in the September quarter 2007. The largest increase this quarter was in Western Australia (up $32.8m or 13.4%). Victoria showed the only decrease of $1.5m (7.5%).


In original terms, mineral exploration expenditure increased by $60.9m (12.1%). Western Australia had the largest increase of $41.5m (16.5%), followed by Northern Territory with an increase of $9.9m (42.1%).


In original terms, exploration on areas of new deposits increased by $30.8m (17.2%), while expenditure on areas of existing deposits increased by $30.2m (9.3%).


In original terms, the largest increase by minerals sought came from expenditure on iron ore exploration (up $24.0m or 27.0%), with the largest increase occurring in Western Australia. The next largest increase came from expenditure on uranium exploration (up $12.5m or 33.3%). The largest decrease in exploration expenditure this quarter was in copper (down $11.9m or 15.4%).

Mineral Exploration, Original series
Graph: Mineral Exploration, Original series




MINERAL EXPLORATION (OTHER THAN FOR PETROLEUM)


METRES DRILLED

In seasonally adjusted terms, total metres drilled increased by 5.1% in the September quarter 2007. In original terms total metres drilled increased by 10.2%. Drilling in areas of new deposits increased by 29.7% and drilling in areas of existing deposits decreased by 0.3%.

Metres Drilled, Original series
Graph: Metres Drilled, Original series




PETROLEUM EXPLORATION


OVERVIEW

Expenditure on petroleum exploration for the September quarter 2007 decreased by $33.8m (4.6%) to $698.3m.


Expenditure on exploration on production leases decreased by $2.2m (1.4%), while exploration on all other areas decreased by $31.7m (5.5%) this quarter.


There was a decrease of $11.6m (1.9%) in offshore exploration, while onshore exploration expenditure decreased by $22.2m (16.4%).

Petroleum Exploration, Original series
Graph: Petroleum Exploration, Original series




REGIONAL DATA

In the September quarter 2007, Western Australia had the largest increase in petroleum exploration expenditure of $21.1m (4.0%). Victoria had the largest decrease of $33.2m (72.5%), followed by Northern Territory with a decrease of $20.3m (37.7%).

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