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8412.0 - Mineral and Petroleum Exploration, Australia, Sep 2014  
Latest ISSUE Released at 11:30 AM (CANBERRA TIME) 01/12/2014   
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NOTES

FORTHCOMING ISSUES

ISSUE (QUARTER) Release Date
December 2014 2 March 2015
March 2015 1 June 2015
June 2015 7 September 2015
September 2015 7 December 2015



CHANGES TO THIS ISSUE
  • The June quarter 2014 estimate for total mineral exploration has been revised upwards by $40m. Metres drilled was revised upwards by 92km. The June quarter 2014 estimate for total petroleum exploration has been revised downwards by $47m. The revisions are due to updated information received from survey respondents.
  • Revisions to seasonally adjusted estimates are due to revisions to original estimates as well as concurrent methodology for deriving seasonal factors.


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SUMMARY COMMENTARY


MINERAL EXPLORATION (OTHER THAN FOR PETROLEUM)


TOTAL EXPENDITURE

The trend estimate for total mineral exploration expenditure fell 3.6% (or -$16.5m) to $446.9m in the September quarter 2014. The largest contributor to the fall in the trend estimate this quarter was Queensland (down 10.9% or -$10.7m). The current quarter estimate is 24.4% lower than the September quarter 2013 estimate.

The seasonally adjusted estimate for mineral exploration expenditure fell 7.8% (or -$37.0m) to $439.8m in the September quarter 2014. The largest contributor to the fall this quarter was Western Australia (down 7.7% or -$21.7m).

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 11.7% (or -$60.0m) to $455.0m in the September quarter 2014. Exploration on areas of new deposits fell 10.4% (or -$15.0m) and expenditure on areas of existing deposits fell 12.1% (or -$45.0m).

In original terms, the largest fall by minerals sought came from expenditure on iron ore exploration (down 24.4% or -$46.1m). The next largest fall came from expenditure on gold exploration (down 13.4% or -$13.9m).

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



METRES DRILLED

The trend estimate for metres drilled fell 1.8% in the September quarter 2014. The current quarter estimate is 13.0% lower than the September quarter 2013 estimate.

The seasonally adjusted estimate for metres drilled fell 1.4% in the September quarter 2014.

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


In original terms, metres drilled fell 1.5%. Drilling in areas of new deposits rose 28.5% and drilling in areas of existing deposits fell 8.2%.

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



PETROLEUM EXPLORATION


TOTAL EXPENDITURE

The trend estimate for total petroleum exploration expenditure fell 3.1% (or -$33.4m) to $1,032.9m in the September quarter 2014. Exploration expenditure on production leases fell 15.9% (or -$53.4m), while exploration expenditure on all other areas rose 2.7% (or +$19.7m).

The seasonally adjusted estimate for total petroleum exploration expenditure fell 34.1% (or -$516.9m) to $1,000.0m in the September quarter 2014. Exploration expenditure on production leases fell 7.3% (or -$20.9m) and exploration expenditure on all other areas fell 40.2% (or -$496.0m).

The largest contributor to the fall in the trend estimate was Western Australia (down 5.5% or -$36.0m) and the largest contributor to the fall in the seasonally adjusted estimate was Western Australia (down 24.7% or -$199.0m).

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



ONSHORE

The trend estimate for onshore petroleum exploration expenditure fell 1.7% (or -$4.8m) to $280.9m in the September quarter 2014. Expenditure on drilling fell 5.2% (or -$9.2m), while other onshore petroleum exploration expenditure rose 3.9% (or +$4.3m).

The seasonally adjusted estimate for onshore petroleum exploration expenditure fell 33.0% (or -$142.2m) to $289.1m in the September quarter 2014. Expenditure on drilling fell 10.7% (or -$18.9m), and other onshore petroleum exploration fell 48.2% (or -$123.2m).

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



OFFSHORE

The trend estimate for offshore petroleum exploration expenditure fell 3.5% (or -$27.5m) to $753.0m in the September quarter 2014. Expenditure on drilling fell 1.2% (or -$7.1m), while other offshore petroleum exploration expenditure fell 10.4% (or -$20.4m).

The seasonally adjusted estimate for offshore petroleum exploration expenditure fell 34.5% (or -$374.8m) to $710.8m in the September quarter 2014. Expenditure on drilling fell 31.5% (or -$268.2m), and other offshore petroleum exploration expenditure fell 45.5% (or -$106.5m).

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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