INQUIRIES

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SUMMARY COMMENTARY


MINERAL EXPLORATION (OTHER THAN FOR PETROLEUM)


TOTAL EXPENDITURE

The trend estimate for total mineral exploration expenditure increased 0.4% ($2.2m) to $554.4m in the December quarter 2018. The largest contributor to the increase in the trend estimate this quarter was Western Australia (up 0.6%, $1.9m). The current quarter estimate is 16.1% higher than the December quarter 2017 estimate.

The seasonally adjusted estimate for mineral exploration expenditure rose 0.4% ($2.2m) to $549.4m in the December quarter 2018. The largest contributor to the rise this quarter was Northern Territory (up 16.8%, $4.9m).

In original terms, mineral exploration expenditure fell 0.3% (-$1.6m) to $582.8m in the December quarter 2018. Exploration on areas of new deposits rose 4.5% ($10.0m) and expenditure on areas of existing deposits fell 3.3% (-$12.1m).

In original terms, the largest decrease by minerals sought came from expenditure on Iron Ore (down 12.5%, -$10.8m).

METRES DRILLED

The trend estimate for metres drilled rose 0.8% in the December quarter 2018. The current quarter estimate is 16.5% higher than the December quarter 2017 estimate.

The seasonally adjusted estimate for metres drilled fell 4.9% in the December quarter 2018.

In original terms, metres drilled fell 10.7%. Drilling in areas of new deposits fell 8.9% and drilling in areas of existing deposits fell 12.3%.

PETROLEUM EXPLORATION


TOTAL EXPENDITURE

The trend estimate for total petroleum exploration expenditure rose 11.1% ($35.6m) to $356.4m in the December quarter 2018. Exploration expenditure on production leases rose 31.3% ($28.6m) and exploration expenditure on all other areas rose 1.6% ($3.6m).

The seasonally adjusted estimate for total petroleum exploration expenditure rose 13.6% ($42.0m) to $349.9m in the December quarter 2018. Exploration expenditure on production leases rose 50.7% ($45.4m) and exploration expenditure on all other areas fell 1.6% (-$3.4m).

The largest contributor to the increase in the trend estimate was Western Australia (up 8.9%, $17.0m) and the largest contributor to the rise in the seasonally adjusted estimate was Western Australia (up 13.4%, $23.8m).

ONSHORE

The trend estimate for onshore petroleum exploration expenditure rose 10.3% ($10.9m) to $117.0m in the December quarter 2018. Expenditure on drilling rose 15.2% ($11.6m) and other onshore petroleum exploration expenditure fell 2.3% (-$0.7m).

The seasonally adjusted estimate for onshore petroleum exploration expenditure rose 16.2% ($16.6m) to $118.8m in the December quarter 2018. Expenditure on drilling rose 6.2% ($5.1m) and other onshore petroleum exploration rose 56.4% ($11.5m).

OFFSHORE

The trend estimate for offshore petroleum exploration expenditure rose 10.3% ($22.2m) to $237.0m in the December quarter 2018. Expenditure on drilling rose 11.4% ($13.6m) and other offshore petroleum exploration expenditure rose 9.0% ($8.6m).

The seasonally adjusted estimate for offshore petroleum exploration expenditure rose 12.3% ($25.4m) to $231.1m in the December quarter 2018. Expenditure on drilling rose 13.2% ($14.7m) and other offshore petroleum exploration expenditure rose 11.2% ($10.6m).

NOTES

FORTHCOMING ISSUES

ISSUE (QUARTER)	Release Date
March 2019	3 June 2019
June 2019	2 September 2019
September 2019	2 December 2019
December 2019	2 March 2020