NOTES

FORTHCOMING ISSUES

ISSUE (QUARTER)	Release Date
June 2010	8 September 2010
September 2010	8 December 2010
December 2010	9 March 2011
March 2011	8 June 2011

CHANGES TO THIS ISSUE

There are no changes in this issue.


INQUIRIES

For further information about these and related statistics, contact the National Information and Referral Service on 1300 135 070 or Mark Busby on Sydney (02) 9268 4533.


SUMMARY COMMENTARY


MINERAL EXPLORATION (OTHER THAN FOR PETROLEUM)


TREND ESTIMATES

The trend estimate for total mineral exploration expenditure rose $25.9m (4.8%) to $562.6m in the March quarter 2010. The current quarter estimate is 9.6% higher than the March quarter 2009 estimate.

The largest contribution to the rise in the trend estimate this quarter was in Western Australia (up $17.5m or 5.9%) followed by Queensland (up $5.7m or 5.4%).

The trend estimate for metres drilled rose 3.6% this quarter. The current quarter estimate is 21.8% higher than the March quarter estimate for last year.


MINERAL EXPLORATION (OTHER THAN FOR PETROLEUM)


EXPLORATION EXPENDITURE

The seasonally adjusted estimate of mineral exploration expenditure rose $30.4m (5.7%) to $564.1m in the March quarter 2010. The largest rises this quarter were in Western Australia (up $16.9m or 5.7%) and New South Wales (up $6.5m or 24.3%).

In original terms, mineral exploration expenditure fell $119.5m (20.6%). Western Australia had the largest fall of $64.6m (20.1%), followed by Queensland which fell $42.9m (34.7%).

In original terms, exploration on areas of new deposits fell $55.6m (24.3%), while expenditure on areas of existing deposits fell $63.8m (18.2%).

In original terms, the largest fall by minerals sought came from expenditure on iron ore exploration (down $40.2m or 29.5%), with the largest fall occurring in Western Australia. The next largest fall came from expenditure on uranium exploration (down $25.4m or 51.7%).

MINERAL EXPLORATION (OTHER THAN FOR PETROLEUM)


METRES DRILLED

In seasonally adjusted terms, total metres drilled fell 7.8% in the March quarter 2010. In original terms total metres drilled fell 32.7%. Drilling in areas of new deposits fell 36.1% and drilling in areas of existing deposits fell 30.7%.

PETROLEUM EXPLORATION


OVERVIEW

Expenditure on petroleum exploration for the March quarter 2010 rose $36.5m (4.4%) to $863.5m.

Expenditure on exploration on production leases fell $53.1m (29.3%) to $128.3m, while exploration on all other areas rose $89.5m (13.9%) to $735.2m this quarter.

Offshore exploration rose $70.4m (11.5%) to $685.1m in the March quarter 2010, while onshore exploration expenditure fell $33.9m (16.0%) to $178.4m.

REGIONAL DATA

In the March quarter 2010, Western Australia had the largest rise in petroleum exploration expenditure of $105.0m (19.4%), followed by New South Wales with a rise of $18.2m (85.4%). Queensland had the largest fall of $31.4m (21.7%).