SUMMARY COMMENTARY


MINERAL EXPLORATION (OTHER THAN FOR PETROLEUM)


TOTAL EXPENDITURE

The trend estimate for total mineral exploration expenditure decreased 2.0% (-$7.1m) to $343.0m in the June quarter 2016. The largest contributor to the fall in the trend estimate this quarter was Queensland (down 15.4%, -$8.0m). The current quarter estimate is 4.2% lower than the June quarter 2015 estimate.

The seasonally adjusted estimate for mineral exploration expenditure rose 1.0% ($3.5m) to $345.2m in the June quarter 2016. The largest contributor to the rise this quarter was South Australia (up 78.7%, $7.4m).

In original terms, mineral exploration expenditure rose 21.9% ($63.5m) to $353.9m in the June quarter 2016. Exploration on areas of new deposits rose 19.5% ($17.0m) and expenditure on areas of existing deposits rose 22.9% ($46.6m).

In original terms, the largest increase by minerals sought came from expenditure on gold (up 31.5%, $37.6m).

METRES DRILLED

The trend estimate for metres drilled rose 2.4% in the June quarter 2016. The current quarter estimate is 16.8% higher than the June quarter 2015 estimate.

The seasonally adjusted estimate for metres drilled fell 0.4% in the June quarter 2016.

In original terms, metres drilled rose 38.0%. Drilling in areas of new deposits rose 36.2% and drilling in areas of existing deposits rose 38.3%.

PETROLEUM EXPLORATION


TOTAL EXPENDITURE

The trend estimate for total petroleum exploration expenditure fell 19.4% (-$76.8m) to $318.4m in the June quarter 2016. Exploration expenditure on production leases fell 31.2% (-$26.3m) and exploration expenditure on all other areas fell 12.7% (-$39.3m).

The seasonally adjusted estimate for total petroleum exploration expenditure fell 30.8% (-$131.3m) to $295.3m in the June quarter 2016. Exploration expenditure on production leases fell 4.2% (-$2.8m) and exploration expenditure on all other areas fell 35.6% (-$128.5m).

The largest contributor to the decrease in the trend estimate was Western Australia (down 14.9%, -$44.6m) and the largest contributor to the fall in the seasonally adjusted estimate was Western Australia (down 33.1%, -$110.5m).

ONSHORE

The trend estimate for onshore petroleum exploration expenditure fell 35.1% (-$33.6m) to $62.0m in the June quarter 2016. Expenditure on drilling fell 32.7% (-$13.7m) and other onshore petroleum exploration expenditure fell 34.3% (-$18.4m).

The seasonally adjusted estimate for onshore petroleum exploration expenditure fell 29.9% (-$27.7m) to $64.8m in the June quarter 2016. Expenditure on drilling fell 26.9% (-$11.8m) and other onshore petroleum exploration fell 32.6% (-$15.9m).

OFFSHORE

The trend estimate for offshore petroleum exploration expenditure fell 13.2% (-$39.6m) to $259.8m in the June quarter 2016. Expenditure on drilling fell 9.1% (-$19.2m) and other offshore petroleum exploration expenditure fell 23.0% (-$20.4m).

The seasonally adjusted estimate for offshore petroleum exploration expenditure fell 31.0% ($103.7m) to $230.4m in the June quarter 2016. Expenditure on drilling fell 36.3% (-$92.5m) and other offshore petroleum exploration expenditure fell 14.1% (-$11.2m).

NOTES

FORTHCOMING ISSUES

ISSUE (QUARTER)	Release Date
September 2016	5 December 2016
December 2016	27 February 2017
March 2017	5 June 2017
June 2017	4 September 2017

CHANGES TO THE CURRENT ISSUE

• As stated in the March quarter 2016 publication, the Expected Adjusted series has been removed from Table 1 of this publication. For more information please contact Ben Faulkner on 02 9268 4052 or by email ben.faulkner@abs.gov.au.

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