8412.0 - Mineral and Petroleum Exploration, Australia, Mar 2019  
Latest ISSUE Released at 11:30 AM (CANBERRA TIME) 03/06/2019   
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SUMMARY COMMENTARY


MINERAL EXPLORATION (OTHER THAN FOR PETROLEUM)


TOTAL EXPENDITURE

The trend estimate for total mineral exploration expenditure increased 1.7% ($9.4m) to $573.9m in the March quarter 2019. The largest contributor to the increase in the trend estimate this quarter was Western Australia (up 2.6%, $8.8m). The current quarter estimate is 11.9% higher than the March quarter 2018 estimate.

The seasonally adjusted estimate for mineral exploration expenditure rose 3.9% ($21.7m) to $581.7m in the March quarter 2019. The largest contributor to the rise this quarter was Western Australia (up 8.7%, $29.0m).


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 fell 16.1% (-$95.2m) to $497.5m in the March quarter 2019. Exploration on areas of new deposits fell 24.6% (-$57.5m) and expenditure on areas of existing deposits fell 10.5% (-$37.8m).

In original terms, the largest decrease by minerals sought came from expenditure on Selected Base Metals (down 17.4%, -$27.5m).


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


METRES DRILLED

The trend estimate for metres drilled rose 2.0% in the March quarter 2019. The current quarter estimate is 14.5% higher than the March quarter 2018 estimate.

The seasonally adjusted estimate for metres drilled rose 9.8% in the March quarter 2019.


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

In original terms, metres drilled fell -12.0%. Drilling in areas of new deposits fell -20.9% and drilling in areas of existing deposits fell -6.6%.


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


PETROLEUM EXPLORATION


TOTAL EXPENDITURE

The trend estimate for total petroleum exploration expenditure fell 10.3% (-$31.2m) to $271.7m in the March quarter 2019. Exploration expenditure on production leases fell 13.8% (-$12.2m) and exploration expenditure on all other areas fell 8.2% (-$17.6m).

The seasonally adjusted estimate for total petroleum exploration expenditure fell 27.1% (-$89.7m) to $241.2m in the March quarter 2019. Exploration expenditure on production leases fell 73.1% (-$94.6m) and exploration expenditure on all other areas rose 2.4% ($4.9m).

The largest contributor to the decrease in the trend estimate was Western Australia (down 20.1%, -$33.5m) and the largest contributor to the fall in the seasonally adjusted estimate was Western Australia (down 44.3%,-$83.5).


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


ONSHORE

The trend estimate for onshore petroleum exploration expenditure fell 2.4% (-$2.6m) to $104.1m in the March quarter 2019. Expenditure on drilling fell 4.9% (-$3.7m) and other onshore petroleum exploration expenditure rose 3.9% ($1.2m).

The seasonally adjusted estimate for onshore petroleum exploration expenditure fell 16.3% (-$18.8m) to $96.5m in the March quarter 2019. Expenditure on drilling fell 27.4% (-$22.9m) and other onshore petroleum exploration rose 12.9% ($4.1m).


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


OFFSHORE

The trend estimate for offshore petroleum exploration expenditure fell 13.9% (-$27.2m) to $169.0m in the March quarter 2019. Expenditure on drilling fell 21.6% (-$22.6m) and other offshore petroleum exploration expenditure fell 5.0% (-$4.6m).

The seasonally adjusted estimate for offshore petroleum exploration expenditure fell 32.9% (-$71.0m) to $144.6m in the March quarter 2019. Expenditure on drilling fell 41.8% (-$48.3m) and other offshore petroleum exploration expenditure fell 22.7% (-$22.7m).


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

FORTHCOMING ISSUES

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



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