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MINERAL AND PETROLEUM EXPLORATION EXPENDITURE
The value of South Australian mineral exploration expenditure (in original terms) was $62.6m in the March quarter 2011; an increase of 5.1% over the previous quarter but 34.2% below the peak recorded in the June quarter 2008 ($95.2m). Australian expenditure on mineral exploration was $644.6m in the March quarter 2011; a decrease of 8.4% from the December quarter 2010 estimate ($703.3m).
Exploration expenditure on Copper ($25.1m) and Iron ore ($13.9m) accounted for nearly two thirds (62.3%) of all South Australian mineral exploration expenditure in the March quarter 2011. A further $9.3m was spent on exploration for Uranium.
Expenditure on petroleum exploration in South Australia in the March quarter 2011 rose to $28.3m, up (88.0%) from $15.1m the previous quarter. The latest figure is more than double (106.6%) the expenditure recorded in March 2010 ($13.7m). Nationally, expenditure on petroleum exploration decreased by 9.8% from $849.6m to $766.1m between the December quarter 2010 and March quarter 2011.
Please refer to source publications for impact of floods on data and collections.
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