Figures from the newly-released Australian Bureau of Statistics indicate another increase in exploration from the previous quarter.

During the December quarter for 2019, mineral exploration expenditure rose 4.9% ($35.7m) to $760.5m. Exploration on areas of existing deposits (brownfields) rose 8.1% ($34.3m) and
expenditure on areas of new deposits rose 0.5% ($1.4m).

Total mineral expenditure for the December quarter 2019 was up 30% compared to the December quarter of 2018.

The largest increase by minerals sought came from expenditure on Gold (up 7.5%, ($21.1m).

Metres drilled fell 2.0%, while rilling in areas of new deposits fell -18.0%, while drilling in areas of existing deposits (brownfields) rose 8.7%.

State-by-state analysis shows total expenditure rose in New South Wales by 24.0%, Queensland by 5.6%, Northern Territory rose by 1.6%, Victoria increased by 30.9% and South Australia by 36.4%, however, Western Australia dropped by 0.6% and Tasmania by 2.94%.”

Total petroleum exploration expenditure (rend estimate) rose 11.0% ($40.8m) to $410.1m in the December quarter 2019. Exploration expenditure on production leases rose 37.6% ($30.7m) and exploration expenditure on all other areas rose 2.3% ($6.7m).

Onshore petroleum exploration expenditure rose 24.4% ($39.6m) to $201.6m in the December quarter 2019. Expenditure on drilling rose 21.4% ($22.7m) and other onshore petroleum exploration expenditure rose 28.1% ($15.7m).

Offshore petroleum exploration expenditure rose 0.3% ($0.7m) to $208.0m in the December quarter 2019. Expenditure on drilling rose 3.9% ($4.0m) and other offshore petroleum exploration expenditure fell 3.3% (-$3.4m).