NOTES

FORTHCOMING ISSUES

ISSUE (QUARTER)	Release Date
September 2012	3 December 2012
December 2012	4 March 2013
March 2013	3 June 2013
June 2013	2 September 2013

CHANGES TO THIS ISSUE

This publication now includes seasonally adjusted and trend estimates for the petroleum exploration series. Table 6 and table 7 of this publication and tables 6a, 6b and 7 of the time series spreadsheets have been extended to incorporate the seasonally adjusted and trend estimates.


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 rose 3.1% (or $31.6m) to $1056.4m in the June quarter 2012. The largest contributor to the rise in the trend estimate this quarter was Western Australia (up 7.4% or $41.5m). The current quarter estimate is 22.9% higher than the June quarter 2011 estimate.

The seasonally adjusted estimate for mineral exploration expenditure fell 4.9% (or -$52.9m) to $1018.5m in the June quarter 2012. The largest contributor to the fall this quarter was Queensland (down 12.6% or -$33.1m), followed by Western Australia (down 1.6% or -$9.3m).

In original terms, mineral exploration expenditure rose 21.1% (or $185.0m) to $1061.1m in the June quarter 2012. Exploration on areas of new deposits rose 43.9% (or $109.1m) and expenditure on areas of existing deposits rose 12.1% (or $75.9m).

In original terms, the largest rise by minerals sought came from expenditure on iron ore exploration (up 25.5% or $68.3m). The next largest rise came from expenditure on gold exploration (up 27.4% or $46.2m).

METRES DRILLED

The trend estimate for metres drilled rose 0.8% in the June quarter 2012. The current quarter estimate is 7.5% higher than the June quarter 2011 estimate.

The seasonally adjusted estimate for metres drilled fell 1.1% in the June quarter 2012.

In original terms, metres drilled rose 33.1%. Drilling in areas of new deposits rose 83.7% and drilling in areas of existing deposits rose 15.6%.

PETROLEUM EXPLORATION


TOTAL EXPENDITURE

The trend estimate for total petroleum exploration expenditure fell 0.8% (or -$6.2m) to $764.5m in the June quarter 2012. Exploration expenditure on production leases rose 24.2% (or $35.0m), while exploration expenditure on all other areas fell 5.9% (or -$36.9m).

The seasonally adjusted estimate for total petroleum exploration expenditure rose 34.3% (or $217.0m) to $850.3m in the June quarter 2012. Exploration expenditure on production leases rose 119.5% (or $122.8m) and exploration expenditure on all other areas rose 17.8% (or $94.2m).

The largest contributor to the fall in the trend estimate was Western Australia (down 2.8% or -$14.1m) while the largest contributor to the rise in the seasonally adjusted estimate was Western Australia (up 39.9% or $156.7m).

ONSHORE

The trend estimate for onshore petroleum exploration expenditure fell 3.3% (or -$7.4m) to $217.1m in the June quarter 2012. Expenditure on drilling fell 6.3% (or -$9.8m), while other onshore petroleum exploration expenditure rose 2.9% (or $2.0m).

The seasonally adjusted estimate for onshore petroleum exploration expenditure rose 13.2% (or $26.7m) to $229.3m in the June quarter 2012. Expenditure on drilling fell 1.7% (or -$2.5m), while other onshore petroleum exploration rose $29.2m (or 54.5%).

OFFSHORE

The trend estimate for offshore petroleum exploration expenditure rose 0.3% (or $1.9m) to $548.0m in the June quarter 2012. Expenditure on drilling fell 1.1% (or -$4.2m), while other offshore petroleum exploration expenditure rose 3.8% (or $6.1m).

The seasonally adjusted estimate for offshore petroleum exploration expenditure rose 44.2% (or $190.3m) to $621.0m in the June quarter 2012. Expenditure on drilling rose 74.1% (or $194.5m), while other offshore petroleum exploration expenditure fell 2.5% (or -$4.2m).