8412.0 - Mineral and Petroleum Exploration, Australia, Sep 2004  
ARCHIVED ISSUE Released at 11:30 AM (CANBERRA TIME) 15/12/2004   
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CHANGES TO THIS ISSUE

For the past five quarters, the Australian Bureau of Statistics has been collecting mineral exploration expenditure on 'new deposits' and 'existing deposits' in response to user feedback. Tables 2 and 3 of this release now include this new disaggregation of expenditure in place of the former split by production leases and other areas, which has now been discontinued. See the Appendix on Page 17 of this issue for further information.


The split of petroleum exploration by production leases and other areas continues.



INQUIRIES

For further information about these and related statistics, contact the National Information and Referral Service on 1300 135 070 or Fiona Cotsell on Sydney (02) 9268 4357.



SUMMARY OF FINDINGS


MINERAL EXPLORATION (OTHER THAN FOR PETROLEUM)


TREND ESTIMATES

The trend estimate for total mineral exploration expenditure increased by 8.0% to $240.7m in the September quarter 2004. The estimate has risen in the last four quarters and is now 32.4% higher than the September quarter 2003.

Graph: Mineral Exploration (Time Series Estimate): Expenditure and Metres Drilled, ; Total deposits , Australia


All states recorded increases this quarter except for Victoria, which had a small decrease. Western Australia had the largest increase of $11.3m (8.7%).


The trend estimate for metres drilled has been increasing for the past four quarters. The current estimate is now 31.5% higher than the September quarter estimate for last year.



MINERAL EXPLORATION (OTHER THAN FOR PETROLEUM)


EXPLORATION EXPENDITURE

The seasonally adjusted estimate of mineral exploration expenditure increased by $24.6m or 11.1% this quarter (up 4.0% in original terms). This increase was dominated by exploration on areas of existing deposits, which increased by $15.9m (11.6%) in original terms. Expenditure on areas of new deposits decreased by $5.2m (5.0%) in original terms.


Seasonally adjusted expenditure in most states and territories increased this quarter, with Western Australia having the largest increase of $10.8m or 8.2%. Tasmania had the only decrease.


In original terms, the largest increase by minerals sought came from expenditure on iron ore exploration (up $10.6m or 55.2%, with most of the increase coming from Western Australia) and coal (up $3.6m, 15.1%). The largest decrease was for exploration on gold which fell by $6.2m (5.3%).

Mineral Exploration Expenditure, Original series
Graph: Mineral Exploration: Expenditure and Metres Drilled, ; Australia , Total deposits




MINERAL EXPLORATION (OTHER THAN FOR PETROLEUM)


METRES DRILLED

In seasonally adjusted terms, total metres drilled increased by 7.8% in the September quarter 2004 (up 4.1% in original terms). The increase was dominated by drilling in areas of existing deposits.

Metres Drilled, Original Series
Graph: Mineral Exploration: Expenditure and Metres Drilled, ; Australia , Total




PETROLEUM EXPLORATION EXPENDITURE


OVERVIEW

Expenditure on petroleum exploration for the September quarter 2004 increased by $6.8m (2.7%) to $263.2m.


Expenditure on exploration on production leases increased significantly (by $71.7m), while exploration on all other areas decreased by $64.9m or 30.0% this quarter.


Onshore exploration had a strong increase of $16.3m (28.4%), while offshore exploration expenditure decreased by $9.5m (4.8%).

Graph: Petroleum Exploration Expenditure



REGIONAL DATA

In the September quarter 2004 most states showed a rise in petroleum exploration expenditure. South Australia had the largest rise of $10.9m (85.2%), while Western Australia recorded the largest decrease of $15.4m (7.8%). The only other state to show a decrease was Victoria, which fell by $1.3m (9.2%).