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8412.0 - Mineral and Petroleum Exploration, Australia, Jun 2007  
Previous ISSUE Released at 11:30 AM (CANBERRA TIME) 12/09/2007   
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NOTES

FORTHCOMING ISSUES

ISSUE (QUARTER) Release Date
September 2007 12 December 2007
December 2007 12 March 2008
March 2008 11 June 2008



CHANGES TO THIS ISSUE

There are no changes in this issue.



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)


TREND ESTIMATES

The trend estimate for total mineral exploration expenditure increased by $22.3m (5.0%) to $470.8m in the June quarter 2007. The estimate is now 37.4% higher than the June quarter 2006 estimate.

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



The largest contributions to the increase this quarter were in Western Australia (up $17.1m or 7.8%) and South Australia (up $7.2m or 9.8%). New South Wales showed the largest decrease of $1.7m or 4.7%.


The trend estimate for metres drilled was unchanged this quarter. The current estimate is now 17.1% higher than the June quarter estimate for last year.



MINERAL EXPLORATION (OTHER THAN FOR PETROLEUM)


EXPLORATION EXPENDITURE

The seasonally adjusted estimate of mineral exploration expenditure increased by $25.1m (5.6%) to $470.7m in the June quarter 2007. The largest increase this quarter was in Western Australia (up $23.8m or 11.0%). South Australia showed the largest decrease of $10.1m (-11.8%).


In original terms, mineral exploration expenditure increased by $133.2m (36.1%). Western Australia had the largest increase of $71.9m (40.0%), followed by Queensland with an increase of $25.6m (47.1%).


In original terms, exploration on areas of new deposits increased by $46.2m (34.9%), while expenditure on areas of existing deposits increased by $86.9m (36.7%).


In original terms, the largest increase by minerals sought came from expenditure on iron ore exploration (up $34.8m or 64.4%), with the largest increase occurring in Western Australia. The next largest increase came from expenditure on copper exploration (up $25.9m or 50.6%). The only decrease in exploration expenditure this quarter was in mineral sands (down $0.2m or 2.1%).

Mineral Exploration, 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 0.8% in the June quarter 2007. In original terms total metres drilled increased by 30.0%. Drilling in areas of new deposits increased by 14.2% and drilling in areas of existing deposits increased by 40.6%.

Metres Drilled, Original series
Graph: Metres Drilled, Original series




PETROLEUM EXPLORATION


OVERVIEW

Expenditure on petroleum exploration for the June quarter 2007 increased by $271.8m (59.0%) to $732.1m. This strong growth in petroleum exploration was enhanced by a recovery from adverse weather conditions in the previous quarter.


Expenditure on exploration on production leases increased by $43.3m (38.7%), while exploration on all other areas increased by $228.6m (65.6%) this quarter.


There was an increase of $246.5m (70.4%) in offshore exploration, while onshore exploration expenditure increased by $25.3m (22.9%).

Petroleum Exploration, Original series
Graph: Petroleum Exploration Expenditure




REGIONAL DATA

In the June quarter 2007, Western Australia had the largest increase in petroleum exploration expenditure of $205.9m (64.4%), followed by Victoria with an increase of $38.8m (554.3%). Queensland had the only decrease of $0.4m (-0.8%).

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