8412.0 - Actual and Expected Private Mineral Exploration, Australia, Dec 1997
ARCHIVED ISSUE Released at 11:30 AM (CANBERRA TIME) 20/03/1998
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Private Mineral Exploration, December Quarter 1997 - ABS
Following four years of strong upward movement, the trend estimate for mineral exploration expenditure in Australia fell in the December quarter 1997, the second consecutive quarterly decline.
Between the September and December quarters of 1997, the trend estimate fell by 4.2 per cent to $283.9 million.
The most significant fall occurred in Western Australia where the estimate fell by $10.7 million (6.0 per cent) to $166.4 million in the December quarter.
In original terms, mineral exploration expenditure reported for the December quarter was $282.0 million, down $19.8 million (6.6 per cent) from the September quarter.
Exploration expenditure for gold in the December quarter was $163.9 million, 16.7 per cent lower than for the September quarter and 12.3 per cent lower than for the December quarter 1996. Gold exploration represented 58.1 per cent of total mineral exploration expenditure during the December quarter, down from 64.1 per cent in the December quarter 1996.
Although gold remained the predominant mineral sought, lower gold prices resulted in a decline in expenditure on exploration for gold. Most of the decline in the level of exploration expenditure during the September and December quarters of 1997 can be attributed to the fall in exploration for gold.
Total expenditure on petroleum exploration was $238.5 million in the December quarter 1997. This was $94.3 million (65.4 per cent) higher than the September quarter but down by 6.0 per cent from the December quarter 1996.
Offshore exploration rose to $174.9 million in the December quarter, $84.3 million (93.0 per cent) higher than for the previous quarter.
Onshore exploration also increased in the December quarter (up $18.7 per cent to $63.6 million) but was 20.8 per cent ($16.7 million) lower than for the December quarter 1996.
Details are in Actual and Expected Private Mineral Exploration, Australia, December Quarter 1997 (cat. no. 8412.0) available from ABS bookshops.
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