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8412.0 - Mineral and Petroleum Exploration, Australia, Sep 2015  
Latest ISSUE Released at 11:30 AM (CANBERRA TIME) 30/11/2015   
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SUMMARY COMMENTARY


MINERAL EXPLORATION (OTHER THAN FOR PETROLEUM)


TOTAL EXPENDITURE

The trend estimate for total mineral exploration expenditure fell 3.5% (or -$12.3m) to $344.1m in the September quarter 2015. The largest contributor to the fall in the trend estimate this quarter was Western Australia (down 3.1% or -$6.5m). The current quarter estimate is 23.7% lower than the September quarter 2014 estimate.

The seasonally adjusted estimate for mineral exploration expenditure rose 11.6% (or +$38.5m) to $369.5m in the September quarter 2015. The largest contributors to the rise this quarter was Western Australia (up 12.8% or +$24.8m).

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 14.5% (or +$50.0m) to $394.0m in the September quarter 2015. Exploration on areas of new deposits rose 0.9% (or +$1.0m) and expenditure on areas of existing deposits rose 21.3% (or +$49.0m).

In original terms, the largest increase by minerals sought came from expenditure on gold (up 19.2% or +$21.6m). The next largest increase came from expenditure on coal (up 12.2% or +$6.1m).

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



METRES DRILLED

The trend estimate for metres drilled fell 1.9% in the September quarter 2015. The current quarter estimate is 7.7% lower than the September quarter 2014 estimate.

The seasonally adjusted estimate for metres drilled rose 1.9% in the September quarter 2015.

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


In original terms, metres drilled rose 2.1%. Drilling in areas of new deposits fell 22.1% and drilling in areas of existing deposits rose 11.8%.

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



PETROLEUM EXPLORATION


TOTAL EXPENDITURE

The trend estimate for total petroleum exploration expenditure fell 21.0% (or -$162.3m) to $608.8m in the September quarter 2015. Exploration expenditure on production leases fell 12.6% (or -$20.0m), while exploration expenditure on all other areas fell 19.8% (or -$120.9m).

The seasonally adjusted estimate for total petroleum exploration expenditure fell 14.5% (or -$102.2m) to $604.4m in the September quarter 2015. Exploration expenditure on production leases fell 21.0% (or -$27.4m) and exploration expenditure on all other areas fell 22.5% (or -$129.6m).

The largest contributor to the decrease in the trend estimate was Queensland (down 24.5% or -$38.4m) and the largest contributor to the fall in the seasonally adjusted estimate was Queensland (down 39.1% or -$62.3m).

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



ONSHORE

The trend estimate for onshore petroleum exploration expenditure fell 20.6% (or -$54.5m) to $209.6m in the September quarter 2015. Expenditure on drilling fell 23.9% (or -$39.6m), while other onshore petroleum exploration expenditure fell 13.7% (or -$13.5m).

The seasonally adjusted estimate for onshore petroleum exploration expenditure fell 21.3% (or -$54.9m) to $202.5m in the September quarter 2015. Expenditure on drilling fell 40.7% (or -$73.2m), and other onshore petroleum exploration rose 23.6% (or +$18.3m).

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 19.7% (or -$99.8m) to $406.9m in the September quarter 2015. Expenditure on drilling fell 26.2% (or -$93.0m), while other offshore petroleum exploration expenditure fell 4.5% (or -$6.8m).

The seasonally adjusted estimate for offshore petroleum exploration expenditure fell 10.5% (or -$47.3m) to $401.8m in the September quarter 2015. Expenditure on drilling fell 15.1% (or -$46.4m), and other offshore petroleum exploration expenditure fell 0.6% (or -$0.8m).

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

NOTES

FORTHCOMING ISSUES

ISSUE (QUARTER) Release Date
December 2015 29 February 2016
March 2016 30 May 2016
June 2016 29 August 2016
September 2016 28 November 2016



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