8412.0 - Actual and Expected Private Mineral Exploration, Australia, Sep 1997
ARCHIVED ISSUE Released at 11:30 AM (CANBERRA TIME) 22/12/1997
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MEDIA RELEASE
Overseas mineral exploration expenditure up in 1996-97 Australian resident companies spent $760 million exploring for minerals and petroleum overseas in 1996-97, 14 per cent more than in 1995-96 according to a report released today by the Australian Bureau of Statistics. Expenditure on petroleum exploration ($321 million) accounted for 42 per cent of total overseas expenditure in 1996-97. Exploration for gold was the next largest with $227 million (30 per cent of the total), followed by base metals with $174 million (23 per cent). North America continued to be the region in which most expenditure occurred with $254 million (33 per cent of total overseas expenditure). This represents an increase of 15 per cent on expenditure in this region during 1995-96. Other regions where exploration expenditure had significant increases were Latin America (up 32 per cent to $120 million), Africa (up 26 per cent to $118 million) and Indonesia (up 63 percent to $109 million). The report also shows that total mineral exploration expenditure in Australia for the September quarter 1997 was $302 million, down $45 million (13 per cent) from the June quarter and $28 million (10 per cent) higher than for the September quarter 1996. Gold remains the predominant mineral sought with $197 million (65 per cent of all exploration expenditure) spent during the quarter. Total expenditure on petroleum exploration was $144 million in the September quarter 1997, a fall of $71 million (33 per cent) from the June quarter. Onshore exploration decreased $26 million (33 per cent) to $54 million while offshore exploration expenditure fell $45 million (33 per cent) to $91 million during this quarter. Details of drilling methods used in mineral exploration in Australia during 1996-97 show that reverse circulation drilling has replaced diamond drilling as the method on which most expenditure occurred, accounting for $204 million or 42 per cent of total expenditure. Expenditure on diamond drilling was $168 million in 1996-97, 35 per cent of the total. Details are in Actual and Expected Private Mineral Exploration, Australia, September Quarter 1997 (cat. no. 8412.0) available from ABS bookshops. Document Selection These documents will be presented in a new window.
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