NOTES

FORTHCOMING ISSUES

ISSUE (QUARTER)	Release Date
March 2013	3 June 2013
June 2013	2 September 2013
September 2013	2 December 2013
December 2013	3 March 2014

CHANGES TO THIS ISSUE

There are no changes to 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)


TOTAL EXPENDITURE

The trend estimate for total mineral exploration expenditure fell 10.2% (or -$89.3m) to $790.2m in the December quarter 2012. The largest contributor to the fall in the trend estimate this quarter was Western Australia (down 11.2% or -$55.3m). The current quarter estimate is 21.2% lower than the December quarter 2011 estimate.

The seasonally adjusted estimate for mineral exploration expenditure fell 6.7% (or -$56.5m) to $788.4m in the December quarter 2012. The largest contributor to the fall this quarter was Queensland (down 8.9% or -$17.5m).

In original terms, mineral exploration expenditure fell 7.9% (or -$70.8m) to $823.9m in the December quarter 2012. Exploration on areas of new deposits fell 13.1% (or -$39.6m) and expenditure on areas of existing deposits fell 5.3% (or -$31.1m).

In original terms, the largest fall by minerals sought came from expenditure on gold exploration (down 16.3% or -$31.7m). The next largest fall came from expenditure on coal exploration (down 12.5% or -$21.4m).

METRES DRILLED

The trend estimate for metres drilled fell 9.9% in the December quarter 2012. The current quarter estimate is 23.7% lower than the December quarter 2011 estimate.

The seasonally adjusted estimate for metres drilled fell 11.2% in the December quarter 2012.

In original terms, metres drilled fell 19.7%. Drilling in areas of new deposits fell 28.2% and drilling in areas of existing deposits fell 15.2%.

PETROLEUM EXPLORATION


TOTAL EXPENDITURE

The trend estimate for total petroleum exploration expenditure rose 20.1% (or $219.0m) to $1309.5m in the December quarter 2012. Exploration expenditure on production leases rose 26.3% (or $79.2m), while exploration expenditure on all other areas rose 14.4% (or $113.9m).

The seasonally adjusted estimate for total petroleum exploration expenditure rose 17.5% (or $197.5m) to $1324.6m in the December quarter 2012. Exploration expenditure on production leases rose 41.3% (or $118.5m) and exploration expenditure on all other areas rose 9.4% (or $79.0m).

The largest contributor to the rise in the trend estimate was Western Australia (up 22.4% or $170.5m) and the largest contributor to the rise in the seasonally adjusted estimate was Western Australia (up 20.4% or $162.8m).

ONSHORE

The trend estimate for onshore petroleum exploration expenditure rose 12.3% (or $32.4m) to $295.3m in the December quarter 2012. Expenditure on drilling rose 13.3% (or $22.2m), while other onshore petroleum exploration expenditure rose 8.4% (or $8.1m).

The seasonally adjusted estimate for onshore petroleum exploration expenditure rose 14.1% (or $37.2m) to $300.9m in the December quarter 2012. Expenditure on drilling rose 31.8% (or $49.6m), while other onshore petroleum exploration fell 11.6% (or -$12.5m).

OFFSHORE

The trend estimate for offshore petroleum exploration expenditure rose 20.8% (or $172.5m) to $1000.6m in the December quarter 2012. Expenditure on drilling rose 24.5% (or $152.6m), while other offshore petroleum exploration expenditure rose 9.7% (or $20.0m).

The seasonally adjusted estimate for offshore petroleum exploration expenditure rose 18.6% (or $160.3m) to $1023.7m in the December quarter 2012. Expenditure on drilling rose 22.8% (or $147.5m), while other offshore petroleum exploration expenditure rose 5.9% (or $12.8m).