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8412.0 - Mineral and Petroleum Exploration, Australia, Mar 2001  
Previous ISSUE Released at 11:30 AM (CANBERRA TIME) 20/06/2001   
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  • About this Release
  • Petroleum exploration expenditure continues to increase (Media Release)

MEDIA RELEASE

June 20, 2001
Embargoed: 11:30 AM (AEST)
73/2001
Petroleum exploration expenditure continues to increase

Expenditure on petroleum exploration rose by 20 percent ($51m) to $305m during the March quarter 2001, according to figures released today by the Australian Bureau of Statistics (ABS).

This was the highest figure reported since the June quarter 1998.

Western Australia was the main contributor reporting an increase in expenditure, up 30 percent ($50m).

Offshore drilling expenditure increased by 51 percent ($53m).

The trend estimate for mineral exploration expenditure in the March quarter 2001 rose slightly, continuing the small increases that have been prevalent in the last four quarters.

In original terms, mineral exploration expenditure for the March quarter 2001 decreased by 10 percent ($19m) to $169m. Western Australia was the main contributor to the March quarter decrease, down 21 percent ($24m). The decrease for the March quarter was mainly due to the northern Australian wet season at this time of year.

Exploration expenditure for gold fell by 11 percent ($11m), diamonds by 58 percent ($6m) and iron ore by 54 percent ($4m), while exploration expenditure for base metals rose by 13 percent ($6m).

Also in original terms, a total of 1.2 million metres were drilled for mineral exploration in the March quarter, 20 percent lower than the December quarter 2000.

Further information can be found in Mineral and Petroleum Exploration, Australia, March Quarter 2000 (cat. no. 8412.0) available from ABS Bookshops . The main features of the publication are available on this site. If you wish to purchase a copy of this publication, contact the ABS Bookshop in you capital city.

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