8412.0 - Mineral and Petroleum Exploration, Australia, Mar 2018
ARCHIVED ISSUE Released at 11:30 AM (CANBERRA TIME) 04/06/2018
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SUMMARY COMMENTARY MINERAL EXPLORATION, Seasonally adjusted and trend In original terms, mineral exploration expenditure fell 11.6% (-$57.4m) to $438.7m in the March quarter 2018. Exploration on areas of new deposits fell 10.6% (-$17.3m) and expenditure on areas of existing deposits fell 12.0% (-$40.1m). In original terms, the largest decrease by minerals sought came from expenditure on gold (down 10.3%, -$21.5m). MINERAL EXPLORATION, Original series METRES DRILLED The trend estimate for metres drilled rose 2.4% in the March quarter 2018. The current quarter estimate is 13.5% higher than the March quarter 2017 estimate. The seasonally adjusted estimate for metres drilled rose 9.4% in the March quarter 2018. METRES DRILLED, Seaonally adjusted and trend In original terms, metres drilled fell 14.8%. Drilling in areas of new deposits fell 17.5% and drilling in areas of existing deposits fell 13.3%. METRES DRILLED, Original series PETROLEUM EXPLORATION TOTAL EXPENDITURE The trend estimate for total petroleum exploration expenditure fell 21.0% (-$49.9m) to $187.6m in the March quarter 2018. Exploration expenditure on production leases fell 3.8% (-$2.0m) and exploration expenditure on all other areas fell 21.8% (-$40.2m). The seasonally adjusted estimate for total petroleum exploration expenditure fell 23.3% (-$55.0m) to $181.4m in the March quarter 2018. Exploration expenditure on production leases rose 8.2% ($4.1m) and exploration expenditure on all other areas fell 31.7% (-$59.2m). The largest contributor to the decrease in the trend estimate was Western Australia (down 14.9%, -$17.2m) and the largest contributor to the fall in the seasonally adjusted estimate was Western Australia (down 41.0%, -$33.7m). PETROLEUM EXPLORATION, Seasonally adjusted and trend ONSHORE The trend estimate for onshore petroleum exploration expenditure fell 13.2% (-$10.8m) to $71.2m in the March quarter 2018. Expenditure on drilling fell 5.7% (-$2.8m) and other onshore petroleum exploration expenditure fell 22.6% (-$7.4m). The seasonally adjusted estimate for onshore petroleum exploration expenditure fell 2.3% (-$1.8m) to $76.0m in the March quarter 2018. Expenditure on drilling rose 9.0% ($4.3m) and other onshore petroleum exploration fell 20.3% (-$6.1m). PETROLEUM EXPLORATION: ONSHORE, Seasonally adjusted and trend OFFSHORE The trend estimate for offshore petroleum exploration expenditure fell 23.3% (-$36.2m) to $119.2m in the March quarter 2018. Expenditure on drilling fell 50.3% (-$31.5m) and other offshore petroleum exploration expenditure fell 5.2% (-$4.8m). The seasonally adjusted estimate for offshore petroleum exploration expenditure fell 33.5% (-$53.2m) to $105.4m in the March quarter 2018. Expenditure on drilling fell 56.9% (-$33.7m) and other offshore petroleum exploration expenditure fell 19.6% (-$19.5m). PETROLEUM EXPLORATION: OFFSHORE, Seasonally adjusted and trend NOTES FORTHCOMING ISSUES
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