https://www.miningweekly.com
Copper|Exploration|Gold|Mining|Petroleum|Resources|Equipment
Copper|Exploration|Gold|Mining|Petroleum|Resources|Equipment
copper|exploration|gold|mining|petroleum|resources|equipment

Exploration spend surges - ABS

29th November 2021

By: Esmarie Iannucci

Creamer Media Senior Deputy Editor: Australasia

     

Font size: - +

PERTH (miningweekly.com) – Mineral exploration expenditure surged in the September quarter, new data from the Australian Bureau of Statistics (ABS) has found.

“Nationally, mineral exploration expenditure for the September 2021 quarter was 32%, or A$237.5-million, higher than September 2020. The last year has seen a period of significant growth for industry, despite the many challenges faced due to the Covid-19 pandemic,” Association of Mining and Exploration Companies (Amec) CEO Warren Pearce said.

“As mineral exploration continues to rise, it is encouraging to see the strength of our industry in supporting Australia’s recovery from the effects of Covid-19”.

Total mineral exploration expenditure grew 7.7%, or A$70.4-million, to A$982.4-million in the September 2021 quarter compared with the previous June quarter in original terms. Greenfield expenditure rose 11.5%, or A$35.6-million, to A$346.1-million in the period, and brownfield expenditure also increased 5.8%, or A$34.8-million, to A$636.3-million.

Metres drilled for greenfield exploration grew 4.25%, while brownfield exploration fell slightly by 1.7%, and there was a strong increase in expenditure across nearly all minerals sought in Australia, with silver and lead up 30%, or A$4.5-million, mineral sands, up 30%, or A$2.8-million, and uranium, up 31%, or A$1.2-million, showing particularly strong growth.

“The September 2021 quarter shows that greenfield exploration remains a priority for industry. The ongoing growth in greenfield expenditure demonstrates industry’s commitment to discovering mines of the future. In particular, the Northern Territory has had a strong quarter, with greenfield exploration increasing 46%, or A$4.7-million, from the June 2021 quarter. Queensland and New South Wales also performed well with growth of 44%, or A$16.9-million, and 43%, or A$10.3-million, respectively, compared to last quarter,” said Pearce.

This quarter, total expenditure grew in New South Wales by 5%, Queensland by 26%, Western Australia grew by 8%, Tasmania by 87% and Northern Territory by 1%. Victoria suffered a fall of 11%, while South Australia fell 26%.

The expenditure increases in Queensland can be largely attributed to increases in exploration for silver and lead, which was up 52% and selected base metals, which was up 25%. In New South Wales, copper experienced a significant increase of 22%, while Western Australia continues to represent the majority of Australia’s mineral exploration activity, at 65.6%, and set new records for gold exploration with A$309-million and a staggering A$644.3-million across all minerals expended in the quarter.

“The strong rise in greenfield mineral exploration in the September quarter is extremely positive, as companies seek to discover the mines of the future. The development of these mines will create jobs and bring wide economic and social benefits to our country,” said Pearce.

The Queensland Resources Council (QRC) said the data painted an optimistic picture for Queensland’s resources sector, which has continued to surge ahead for both petroleum and minerals.

“The exploration expenditure data is 5% higher than the previous 12 months and 40% higher than the same period two years ago, so it’s another strong result for Queensland,” QRC CEO Ian Macfarlane said.

“These latest figures show our explorers have managed to continue to expand their exploration programmes in spite of Covid-19’s impact on the availability to recruit skilled workers and source equipment from overseas and interstate.

“This demonstrates the continuing strength and ingenuity of the resources sector, which benefits every Queenslander in terms of job opportunities and our industry’s ongoing contribution to the state’s economy.”

Queensland Exploration Council chairperson Kim Wainwright said the state’s exploration industry has shown resilience through the pandemic.

“It’s welcome news that the exploration industry is forging ahead in spite of the challenges of Covid-19,” Wainwright said.

“Over the past 12 months, Queensland petroleum exploration expenditure hit A$296-million, which is 8% higher than the same period in 2020 and 58% higher than 2019.

“Queensland minerals exploration expenditure hit A$427-million over the past 12 months, which is 3% higher than the same period in 2020 and 29% more than 2019.”

Edited by Creamer Media Reporter

Comments

Showroom

Booyco Electronics
Booyco Electronics

Booyco Electronics, South African pioneer of Proximity Detection Systems, offers safety solutions for underground and surface mining, quarrying,...

VISIT SHOWROOM 
Hanna Instruments Image
Hanna Instruments (Pty) Ltd

We supply customers with practical affordable solutions for their testing needs. Our products include benchtop, portable, in-line process control...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Hyphen, Eva mine, ferrochrome price make headlines
Hyphen, Eva mine, ferrochrome price make headlines
27th March 2024
Resources Watch
Resources Watch
27th March 2024

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







sq:0.104 0.136s - 92pq - 2rq
Subscribe Now