8412.0 - Mineral and Petroleum Exploration, Australia, Jun 2018  
Latest ISSUE Released at 11:30 AM (CANBERRA TIME) 03/09/2018   
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SUMMARY COMMENTARY


MINERAL EXPLORATION (OTHER THAN FOR PETROLEUM)


TOTAL EXPENDITURE

The trend estimate for total mineral exploration expenditure increased 6.8% ($34.6m) to $547.1m in the June quarter 2018. The largest contributor to the increase in the trend estimate this quarter was Western Australia (up 7.0%, $21.4m). The current quarter estimate is 28.9% higher than the June quarter 2017 estimate.

The seasonally adjusted estimate for mineral exploration expenditure rose 6.5% ($33.9m) to $553.8m in the June quarter 2018. The largest contributor to the rise this quarter was Western Australia (up 6.7%, $20.9m).

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 rose 28.4% ($124.7m) to $563.4m in the June quarter 2018. Exploration on areas of new deposits rose 37.1% ($54.0m) and expenditure on areas of existing deposits rose 24.1% ($70.7m).

In original terms, the largest increase by minerals sought came from expenditure on selected base metals (up 38.1%, $42.2m).

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



METRES DRILLED

The trend estimate for metres drilled rose 4.7% in the June quarter 2018. The current quarter estimate is 15.5% higher than the June quarter 2017 estimate.

The seasonally adjusted estimate for metres drilled rose 5.2% in the June quarter 2018.

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


In original terms, metres drilled rose 44.3%. Drilling in areas of new deposits rose 57.0% and drilling in areas of existing deposits rose 37.8%.

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



PETROLEUM EXPLORATION


TOTAL EXPENDITURE

The trend estimate for total petroleum exploration expenditure rose 10.6% ($25.3m) to $262.9m in the June quarter 2018. Exploration expenditure on production leases rose 0.6% ($0.3m) and exploration expenditure on all other areas rose 13.0% ($24.4m).

The seasonally adjusted estimate for total petroleum exploration expenditure rose 84.8% ($149.9m) to $326.6m in the June quarter 2018. Exploration expenditure on production leases fell 4.2% (-$2.2m) and exploration expenditure on all other areas rose 122.2% ($152.2m).

The largest contributor to the increase in the trend estimate was Western Australia (up 19.8%, $26.3m) and the largest contributor to the rise in the seasonally adjusted estimate was Western Australia (up 181.2%, $137.9m).

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



ONSHORE

The trend estimate for onshore petroleum exploration expenditure rose 7.7% ($6.4m) to $89.3m in the June quarter 2018. Expenditure on drilling rose 8.0% ($4.0m) and other onshore petroleum exploration expenditure rose 7.6% ($2.5m).

The seasonally adjusted estimate for onshore petroleum exploration expenditure rose 29.3% ($22.5m) to $99.4m in the June quarter 2018. Expenditure on drilling rose 6.4% ($3.3m) and other onshore petroleum exploration rose 75.0% ($19.2m).

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 12.1% ($18.7m) to $173.4m in the June quarter 2018. Expenditure on drilling rose 34.6% ($24.0m) and other offshore petroleum exploration expenditure fell 6.2% (-$5.3m).

The seasonally adjusted estimate for offshore petroleum exploration expenditure rose 127.7% ($127.4m) to $227.2m in the June quarter 2018. Expenditure on drilling rose 472.0% ($118.0m) and other offshore petroleum exploration expenditure rose 12.6% ($9.4m).

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



NOTES

FORTHCOMING ISSUES

ISSUE (QUARTER) Release Date
September 2018 3 December 2018
December 2018 4 March 2019
March 2019 3 June 2019
June 2019 2 September 2019



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