8412.0 - Mineral and Petroleum Exploration, Australia, Jun 2019  
Latest ISSUE Released at 11:30 AM (CANBERRA TIME) 02/09/2019   
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SUMMARY COMMENTARY


MINERAL EXPLORATION (OTHER THAN FOR PETROLEUM)


TOTAL EXPENDITURE

The trend estimate for total mineral exploration expenditure increased 5.2% ($31.3m) to $629.6m in the June quarter 2019. The largest contributor to the increase in the trend estimate this quarter was Western Australia (up 6.2%, $22.9m). The current quarter estimate is 16.5% higher than the June quarter 2018 estimate.

The seasonally adjusted estimate for mineral exploration expenditure rose 6.9% ($41.5m) to $639.6m in the June quarter 2019. The largest contributor to the rise this quarter was Western Australia (up 4.2%, $15.7m).


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 rose 31.1% ($157.4m) to $663.1m in the June quarter 2019. Exploration on areas of new deposits rose 57.1% ($100.1m) and expenditure on areas of existing deposits rose 17.4% ($57.4m).

In original terms, the largest increase by minerals sought came from expenditure on Selected Base Metals (up 47.3%, $60.6m).


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


METRES DRILLED

The trend estimate for metres drilled fell 1.2% in the June quarter 2019. The current quarter estimate is 4.7% higher than the June quarter 2018 estimate.

The seasonally adjusted estimate for metres drilled fell 10.6% in the June quarter 2019.


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

In original terms, metres drilled rose 20.6%. Drilling in areas of new deposits rose 22.8% and drilling in areas of existing deposits rose 19.5%.


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


PETROLEUM EXPLORATION


TOTAL EXPENDITURE

The trend estimate for total petroleum exploration expenditure rose 2.8% ($8.5m) to $314.1m in the June quarter 2019. Exploration expenditure on production leases fell 29.5% (-$21.3m) and exploration expenditure on all other areas rose 12.6% ($29.5m).

The seasonally adjusted estimate for total petroleum exploration expenditure rose 42.7% ($105.7m) to $353.0m in the June quarter 2019. Exploration expenditure on production leases rose 74.6% ($25.2m) and exploration expenditure on all other areas rose 37.7% ($80.5m).

The largest contributor to the rise in the trend estimate was Western Australia (up 11.4%, $19.7m) and the largest contributor to the rise in the seasonally adjusted estimate was Western Australia (up 131.2%, $138.9).


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


ONSHORE

The trend estimate for onshore petroleum exploration expenditure rose 2.9% ($3.2m) to $112.5m in the June quarter 2019. Expenditure on drilling fell 10.1% (-$7.1m) and other onshore petroleum exploration expenditure rose 24.7% ($9.6m).

The seasonally adjusted estimate for onshore petroleum exploration expenditure rose 25.1% ($24.1m) to $120.3m in the June quarter 2019. Expenditure on drilling rose 16.3% ($9.6m) and other onshore petroleum exploration rose 38.8% ($14.5m).


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


OFFSHORE

The trend estimate for offshore petroleum exploration expenditure rose 2.7% ($5.3m) to $201.5m in the June quarter 2019. Expenditure on drilling fell 8.0% (-$7.3m) and other offshore petroleum exploration expenditure rose 12.0% ($12.6m).

The seasonally adjusted estimate for offshore petroleum exploration expenditure rose 54.0% ($81.6m) to $232.7m in the June quarter 2019. Expenditure on drilling rose 28.4% ($20.6m) and other offshore petroleum exploration expenditure rose 77.9% ($61.1m).


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

FORTHCOMING ISSUES

ISSUE (QUARTER) Release Date
September 2019 2 December 2019
December 2019 2 March 2020
March 2020 2 June 2020
June 2020 31 August 2020



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