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8412.0 - Mineral and Petroleum Exploration, Australia, Dec 2012  
Previous ISSUE Released at 11:30 AM (CANBERRA TIME) 04/03/2013   
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NOTES

FORTHCOMING ISSUES

ISSUE (QUARTER) Release Date
March 2013 3 June 2013
June 2013 2 September 2013
September 2013 2 December 2013
December 2013 3 March 2014



CHANGES TO THIS ISSUE

There are no changes to this issue.


INQUIRIES

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SUMMARY COMMENTARY


MINERAL EXPLORATION (OTHER THAN FOR PETROLEUM)


TOTAL EXPENDITURE

The trend estimate for total mineral exploration expenditure fell 10.2% (or -$89.3m) to $790.2m in the December quarter 2012. The largest contributor to the fall in the trend estimate this quarter was Western Australia (down 11.2% or -$55.3m). The current quarter estimate is 21.2% lower than the December quarter 2011 estimate.

The seasonally adjusted estimate for mineral exploration expenditure fell 6.7% (or -$56.5m) to $788.4m in the December quarter 2012. The largest contributor to the fall this quarter was Queensland (down 8.9% or -$17.5m).

MINERAL EXPLORATION, Seasonally adjusted and trend
Graph: Mineral Exploration (Time Series Estimate): Expenditure and Metres Drilled, ; Total deposits , Australia


In original terms, mineral exploration expenditure fell 7.9% (or -$70.8m) to $823.9m in the December quarter 2012. Exploration on areas of new deposits fell 13.1% (or -$39.6m) and expenditure on areas of existing deposits fell 5.3% (or -$31.1m).

In original terms, the largest fall by minerals sought came from expenditure on gold exploration (down 16.3% or -$31.7m). The next largest fall came from expenditure on coal exploration (down 12.5% or -$21.4m).

MINERAL EXPLORATION, Original series
Graph: MINERAL EXPLORATION, Original series



METRES DRILLED

The trend estimate for metres drilled fell 9.9% in the December quarter 2012. The current quarter estimate is 23.7% lower than the December quarter 2011 estimate.

The seasonally adjusted estimate for metres drilled fell 11.2% in the December quarter 2012.

METRES DRILLED, Seaonally adjusted and trend
Graph: METRES DRILLED, Seaonally adjusted and trend


In original terms, metres drilled fell 19.7%. Drilling in areas of new deposits fell 28.2% and drilling in areas of existing deposits fell 15.2%.

METRES DRILLED, Original series
Graph: METRES DRILLED, Original series



PETROLEUM EXPLORATION


TOTAL EXPENDITURE

The trend estimate for total petroleum exploration expenditure rose 20.1% (or $219.0m) to $1309.5m in the December quarter 2012. Exploration expenditure on production leases rose 26.3% (or $79.2m), while exploration expenditure on all other areas rose 14.4% (or $113.9m).

The seasonally adjusted estimate for total petroleum exploration expenditure rose 17.5% (or $197.5m) to $1324.6m in the December quarter 2012. Exploration expenditure on production leases rose 41.3% (or $118.5m) and exploration expenditure on all other areas rose 9.4% (or $79.0m).

The largest contributor to the rise in the trend estimate was Western Australia (up 22.4% or $170.5m) and the largest contributor to the rise in the seasonally adjusted estimate was Western Australia (up 20.4% or $162.8m).

PETROLEUM EXPLORATION, Seasonally adjusted and trend
Graph: PETROLEUM EXPLORATION, Seasonally adjusted and trend



ONSHORE

The trend estimate for onshore petroleum exploration expenditure rose 12.3% (or $32.4m) to $295.3m in the December quarter 2012. Expenditure on drilling rose 13.3% (or $22.2m), while other onshore petroleum exploration expenditure rose 8.4% (or $8.1m).

The seasonally adjusted estimate for onshore petroleum exploration expenditure rose 14.1% (or $37.2m) to $300.9m in the December quarter 2012. Expenditure on drilling rose 31.8% (or $49.6m), while other onshore petroleum exploration fell 11.6% (or -$12.5m).

PETROLEUM EXPLORATION: ONSHORE, Seasonally adjusted and trend
Graph: PETROLEUM EXPLORATION: ONSHORE, Seasonally adjusted and trend



OFFSHORE

The trend estimate for offshore petroleum exploration expenditure rose 20.8% (or $172.5m) to $1000.6m in the December quarter 2012. Expenditure on drilling rose 24.5% (or $152.6m), while other offshore petroleum exploration expenditure rose 9.7% (or $20.0m).

The seasonally adjusted estimate for offshore petroleum exploration expenditure rose 18.6% (or $160.3m) to $1023.7m in the December quarter 2012. Expenditure on drilling rose 22.8% (or $147.5m), while other offshore petroleum exploration expenditure rose 5.9% (or $12.8m).

PETROLEUM EXPLORATION: OFFSHORE, Seasonally adjusted and trend
Graph: PETROLEUM EXPLORATION: OFFSHORE, Seasonally adjusted and trend



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