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MINERAL AND PETROLEUM EXPLORATION EXPENDITURE
The value of South Australian mineral exploration expenditure (in original terms) was $33.7m in the March quarter 2010; a decrease of 8.9% over the previous quarter and 64.6% below the peak recorded in the June quarter 2008 ($95.2m). Australian expenditure on mineral exploration was $459.3m in the March quarter 2010; a decrease of 20.6% from the December quarter 2009 estimate ($578.8m).
Exploration expenditure on Copper ($17.1m) accounted for a little over half (50.7%) of all South Australian mineral exploration expenditure in the March quarter 2010. A further $9.9m was spent on exploration for Uranium ($5.2m) and Iron ore ($4.7m).
Expenditure on petroleum exploration in South Australia in the March quarter 2010 fell to a new low of $13.7m, down 51.2% from the previous quarter. In contrast, expenditure on petroleum exploration nationally increased by 4.4% from $827.0m to $863.5m over the same period.
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