8412.0 - Mineral and Petroleum Exploration, Australia, Dec 2016  
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SUMMARY COMMENTARY


MINERAL EXPLORATION (OTHER THAN FOR PETROLEUM)


TOTAL EXPENDITURE

The trend estimate for total mineral exploration expenditure increased 3.4% ($12.0m) to $369.5m in the December quarter 2016. The largest contributor to the increase in the trend estimate this quarter was Western Australia (up 4.3%, $10.0m). The current quarter estimate is 4.6% higher than the December quarter 2015 estimate.

The seasonally adjusted estimate for mineral exploration expenditure rose 5.8% ($20.6m) to $374.9m in the December quarter 2016. The largest contributor to the rise this quarter was Western Australia (up 8.0%, $18.5m).

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 rose 6.2% ($23.6m) to $403.1m in the December quarter 2016. Exploration on areas of new deposits rose 15.0% ($17.1m) and expenditure on areas of existing deposits rose 2.5% ($6.7m).

In original terms, the largest increase by minerals sought came from expenditure on gold (up 14.6%, $23.2m).

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



METRES DRILLED

The trend estimate for metres drilled rose 1.2% in the December quarter 2016. The current quarter estimate is 9.1% higher than the December quarter 2015 estimate.

The seasonally adjusted estimate for metres drilled rose 2.9% in the December quarter 2016.

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


In original terms, metres drilled rose 2.6%. Drilling in areas of new deposits rose 22.3% and drilling in areas of existing deposits fell 5.9%.

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



PETROLEUM EXPLORATION


TOTAL EXPENDITURE

The trend estimate for total petroleum exploration expenditure fell 2.9% (-$9.5m) to $320.0m in the December quarter 2016. Exploration expenditure on production leases fell 30.9% (-$10.2m) and exploration expenditure on all other areas rose 1.0% ($3.0m).

The seasonally adjusted estimate for total petroleum exploration expenditure fell 10.8% (-$38.8m) to $320.8m in the December quarter 2016. Exploration expenditure on production leases fell 26.2% (-$7.8m) and exploration expenditure on all other areas fell 9.4% (-$30.9m).

The largest contributor to the decrease in the trend estimate was Western Australia (down 9.3%, -$20.8m) and the largest contributor to the fall in the seasonally adjusted estimate was Northern Territory (down 38.6%, -$24.1m).

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



ONSHORE

The trend estimate for onshore petroleum exploration expenditure rose 0.1% ($0.1m) to $77.0m in the December quarter 2016. Expenditure on drilling rose 6.9% ($2.6m) and other onshore petroleum exploration expenditure fell 5.4% (-$2.1m).

The seasonally adjusted estimate for onshore petroleum exploration expenditure fell 23.7% (-$22.2m) to $71.3m in the December quarter 2016. Expenditure on drilling fell 1.7% (-$0.7m) and other onshore petroleum exploration fell 41.7% (-$21.5m).

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



OFFSHORE

The trend estimate for offshore petroleum exploration expenditure fell 3.2% (-$8.2m) to $244.4m in the December quarter 2016. Expenditure on drilling fell 17.5% (-$25.7m) and other offshore petroleum exploration expenditure rose 16.6% ($17.5m).

The seasonally adjusted estimate for offshore petroleum exploration expenditure fell 6.2% (-$16.5m) to $249.5m in the December quarter 2016. Expenditure on drilling fell 1.8% (-$2.4m) and other offshore petroleum exploration expenditure fell 10.9% (-$14.1m).

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


NOTES

FORTHCOMING ISSUES

ISSUE (QUARTER) Release Date
March 2017 5 June 2017
June 2017 4 September 2017
September 2017 4 December 2017
December 2017 5 March 2018



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