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8412.0 - Mineral and Petroleum Exploration, Australia, Jun 2014  
Latest ISSUE Released at 11:30 AM (CANBERRA TIME) 01/09/2014 Released Today  
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SUMMARY COMMENTARY


MINERAL EXPLORATION (OTHER THAN FOR PETROLEUM)


TOTAL EXPENDITURE

The trend estimate for total mineral exploration expenditure fell 9.6% (or -$46.8m) to $438.8m in the June quarter 2014. The largest contributor to the fall in the trend estimate this quarter was Western Australia (down 14.5% or -$38.4m). The current quarter estimate is 34.3% lower than the June quarter 2013 estimate.

The seasonally adjusted estimate for mineral exploration expenditure fell 7.5% (or -$35.8m) to $444.0m in the June quarter 2014. The largest contributor to the fall this quarter was Queensland (down 24.5% or -$30.2m).

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


In original terms, mineral exploration expenditure rose 16.2% (or +$66.0m) to $474.0m in the June quarter 2014. Exploration on areas of new deposits rose 19.0% (or +$23.0m) and expenditure on areas of existing deposits rose 15.3% (or +$44.0m).

In original terms, the largest rise by minerals sought came from expenditure on iron ore exploration (up 29.3% or +$33.8m). The next largest rise came from expenditure on gold exploration (up 27.2% or +$22.2m).

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



METRES DRILLED

The trend estimate for metres drilled fell 4.9% in the June quarter 2014. The current quarter estimate is 19.5% lower than the June quarter 2013 estimate.

The seasonally adjusted estimate for metres drilled fell 1.4% in the June quarter 2014.

METRES DRILLED, Seaonally adjusted and trend
Graph: METRES DRILLED, Seaonally adjusted and trend


In original terms, metres drilled rose 39.6%. Drilling in areas of new deposits rose 14.7% and drilling in areas of existing deposits rose 48.3%.

METRES DRILLED, Original series
Graph: METRES DRILLED, Original series



PETROLEUM EXPLORATION


TOTAL EXPENDITURE

The trend estimate for total petroleum exploration expenditure rose 12.7% (or +$157.5m) to $1,402.5m in the June quarter 2014. Exploration expenditure on production leases fell 2.9% (or -$11.1m), while exploration expenditure on all other areas rose 17.4% (or +$150.5m).

The seasonally adjusted estimate for total petroleum exploration expenditure rose 21.6% (or +$265.2m) to $1,493.7m in the June quarter 2014. Exploration expenditure on production leases fell 44.0% (or -$217.7m) and exploration expenditure on all other areas rose 65.9% (or +$482.9m).

The largest contributor to the rise in the trend estimate was South Australia (up 39.9% or +$54.8m) and the largest contributor to the rise in the seasonally adjusted estimate was Northern Territory (up 210.8% or +$156.6m).

PETROLEUM EXPLORATION, Seasonally adjusted and trend
Graph: PETROLEUM EXPLORATION, Seasonally adjusted and trend



ONSHORE

The trend estimate for onshore petroleum exploration expenditure rose 16.7% (or +$55.5m) to $388.7m in the June quarter 2014. Expenditure on drilling rose 0.1% (or +$0.2m), while other onshore petroleum exploration expenditure rose 29.2% (or +$45.6m).

The seasonally adjusted estimate for onshore petroleum exploration expenditure rose 19.8% (or +$67.8m) to $410.3m in the June quarter 2014. Expenditure on drilling fell 15.8% (or -$32.4m), while other onshore petroleum exploration rose 73.1% (or +$100.2m).

PETROLEUM EXPLORATION: ONSHORE, Seasonally adjusted and trend
Graph: PETROLEUM EXPLORATION: ONSHORE, Seasonally adjusted and trend



OFFSHORE

The trend estimate for offshore petroleum exploration expenditure rose 11.3% (or +$102.1m) to $1,007.6m in the June quarter 2014. Expenditure on drilling rose 9.4% (or +$66.5m), while other offshore petroleum exploration expenditure rose 17.8% (or +$35.6m).

The seasonally adjusted estimate for offshore petroleum exploration expenditure rose 22.3% (or +$197.4m) to $1,083.4m in the June quarter 2014. Expenditure on drilling rose 25.5% (or +$171.2m), while other offshore petroleum exploration expenditure rose 12.2% (or +$26.2m).

PETROLEUM EXPLORATION: OFFSHORE, Seasonally adjusted and trend
Graph: PETROLEUM EXPLORATION: OFFSHORE, Seasonally adjusted and trend


NOTES

FORTHCOMING ISSUES

ISSUE (QUARTER) Release Date
September 2014 1 December 2014
December 2014 2 March 2015
March 2015 1 June 2015
June 2015 7 September 2015



CHANGES TO THIS ISSUE

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Commonwealth of Australia 2014

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