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8412.0 - Mineral and Petroleum Exploration, Australia, Sep 2008  
Previous ISSUE Released at 11:30 AM (CANBERRA TIME) 10/12/2008   
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NOTES

FORTHCOMING ISSUES

ISSUE (QUARTER) Release Date
December 2008 11 March 2009
March 2009 10 June 2009
June 2009 9 September 2009
September 2009 9 December 2009



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 rose $17.2m (2.6%) to $688.1m in the September quarter 2008. The current estimate is 28.5% higher than the September quarter 2007 estimate.

Mineral Exploration, Seasonally adjusted and trend series
Graph: Mineral Exploration (Time Series Estimate): Expenditure and Metres Drilled, ; Total deposits , Australia


The largest contributions to the rise this quarter were in Western Australia (up $20.0m or 5.7%) and Queensland (up $2.6m or 2.3%). The largest fall was in South Australia (down $5.6m or 6.6%).

The trend estimate for metres drilled fell 0.2% this quarter. The current estimate is 8.2% 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 fell $23.4m (3.4%) to $666.6m in the September quarter 2008. The largest falls this quarter were in South Australia (down $8.6m or 10.2%) and Queensland (down $7.2m or 6.2%).

In original terms, mineral exploration expenditure fell $40.4m (5.5%). South Australia had the largest fall of $20.2m (21.2%), followed by Queensland which fell $17.3m (13.6%). The largest rise was in Western Australia (up $2.6m or 0.7%).

In original terms, exploration on areas of new deposits fell $34.8m (11.4%), while expenditure on areas of existing deposits fell $5.6m (1.3%).

In original terms, the largest fall by minerals sought came from expenditure on gold exploration (down $40.7m or 23.4%), with the largest fall occurring in Western Australia. The next largest fall came from expenditure on copper exploration (down $14.1m or 15.1%). The largest rise in exploration expenditure by minerals sought this quarter was for iron ore (up $15.4m or 10.5%).

MINERAL EXPLORATION, Original series
Graph: MINERAL EXPLORATION, Original series



MINERAL EXPLORATION (OTHER THAN FOR PETROLEUM)


METRES DRILLED

In seasonally adjusted terms, total metres drilled fell 4.6% in the September quarter 2008. In original terms total metres drilled fell 1.3%. Drilling in areas of new deposits fell 7.6% and drilling in areas of existing deposits rose 3.3%.

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



PETROLEUM EXPLORATION


OVERVIEW

Expenditure on petroleum exploration for the September quarter 2008 fell $75.9m (8.9%) to $781.3m.

Expenditure on exploration on production leases rose $48.1m (31.9%), while exploration on all other areas fell $124.0m (17.6%) this quarter.

Offshore exploration fell $70.3m (9.6%) in the September quarter 2008, while onshore exploration expenditure fell $5.6m (4.4%).

Petroleum Exploration, Original series
Graph: Petroleum Exploration Expenditure



REGIONAL DATA

In the September quarter 2008, Western Australia had the largest fall in petroleum exploration expenditure of $77.4m (12.5%). Northern Territory had the largest rise of $36.9m (113.2%).


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