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MINERAL AND PETROLEUM EXPLORATION EXPENDITURE
The value of South Australian mineral exploration expenditure (in original terms) was $59.5m in the December quarter 2010; an increase of 25.6% over the previous quarter but 37.4% below the peak recorded in the June quarter 2008 ($95.2m). Australian expenditure on mineral exploration was $703.3m in the December quarter 2010; an increase of 5.1% from the September quarter 2010 estimate ($669.4m).
Exploration expenditure on Copper ($23.6m) and Uranium ($17.5m) once again accounted for more than two thirds (69.1%) of all South Australian mineral exploration expenditure in the December quarter 2010. A further $9.8m was spent on exploration for Iron ore.
Data relating to expenditure on petroleum exploration in South Australia (and Victoria) were not available for publication in the June or September quarters 2010, however in the December quarter 2010, expenditure was $15.1m. This latest estimate was 46.4% below expenditure for December 2009. Nationally, expenditure on petroleum exploration decreased marginally by 0.1% from $850.4m to $849.6m between the September and December quarters 2010.
Please refer to source publications for impact of floods on data and collections.
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