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8412.0 - Mineral and Petroleum Exploration, Australia, Mar 2014  
Latest ISSUE Released at 11:30 AM (CANBERRA TIME) 02/06/2014   
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NOTES

FORTHCOMING ISSUES

ISSUE (QUARTER) Release Date
June 2014 1 September 2014
September 2014 1 December 2014
December 2014 2 March 2015
March 2015 1 June 2015



CHANGES TO THIS ISSUE

There are no changes to this issue.


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SUMMARY COMMENTARY


MINERAL EXPLORATION (OTHER THAN FOR PETROLEUM)


TOTAL EXPENDITURE

The trend estimate for total mineral exploration expenditure fell 8.3% (or -$44.2m) to $487.7m in the March quarter 2014. The largest contributor to the fall in the trend estimate this quarter was Western Australia (down 14.9% or -$44.8m). The current quarter estimate is 34.1% lower than the March quarter 2013 estimate.

The seasonally adjusted estimate for mineral exploration expenditure fell 9.2% (or -$48.9m) to $480.2m in the March quarter 2014. The largest contributor to the fall this quarter was Western Australia (down 19.6% or -$58.8m).

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 25.5% (or -$139.4m) to $408.0m in the March quarter 2014. Exploration on areas of new deposits fell 31.0% (or -$54.4m) and expenditure on areas of existing deposits fell 22.8% (or -$85.0m).

In original terms, the largest fall by minerals sought came from expenditure on iron ore exploration (down 37.5% or -$69.0m). The next largest fall came from expenditure on gold exploration (down 29.9% or -$34.8m).

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



METRES DRILLED

The trend estimate for metres drilled fell 4.8% in the March quarter 2014. The current quarter estimate is 20.6% lower than the March quarter 2013 estimate.

The seasonally adjusted estimate for metres drilled fell 12.9% in the March quarter 2014.

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


In original terms, metres drilled fell 34.9%. Drilling in areas of new deposits fell 24.2% and drilling in areas of existing deposits fell 38.0%.

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



PETROLEUM EXPLORATION


TOTAL EXPENDITURE

The trend estimate for total petroleum exploration expenditure rose 0.5% (or $5.7m) to $1094.8m in the March quarter 2014. Exploration expenditure on production leases rose 10.4% (or $39.1m), while exploration expenditure on all other areas fell 4.3% (or -$30.8m).

The seasonally adjusted estimate for total petroleum exploration expenditure rose 10.8% (or $110.9m) to $1139.5m in the March quarter 2014. Exploration expenditure on production leases rose 33.4% (or $116.5m) and exploration expenditure on all other areas fell 0.8% (or -$5.6m).

The largest contributor to the rise in the trend estimate was South Australia (up 8.0% or $6.8m) and the largest contributor to the rise in the seasonally adjusted estimate was Western Australia (up 16.8% or $107.8m).

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



ONSHORE

The trend estimate for onshore petroleum exploration expenditure fell 5.1% (or -$15.5m) to $287.0m in the March quarter 2014. Expenditure on drilling rose 2.1% (or $3.8m), while other onshore petroleum exploration expenditure rose 7.7% (or $8.6m).

The seasonally adjusted estimate for onshore petroleum exploration expenditure rose 24.3% (or $65.4m) to $334.2m in the March quarter 2014. Expenditure on drilling rose 24.3% (or $39.8m), while other onshore petroleum exploration rose 24.5% (or $25.7m).

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



OFFSHORE

The trend estimate for offshore petroleum exploration expenditure fell 0.9% (or -$7.2m) to $788.0m in the March quarter 2014. Expenditure on drilling fell 4.7% (or -$29.6m), while other offshore petroleum exploration expenditure rose 13.9% (or $22.4m).

The seasonally adjusted estimate for offshore petroleum exploration expenditure rose 6.0% (or $45.5m) to $805.3m in the March quarter 2014. Expenditure on drilling fell 2.8% (or -$17.1m), while other offshore petroleum exploration expenditure rose 42.4% (or $62.6m).

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



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Commonwealth of Australia 2014

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