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Australia continues to invest in mineral exploration

Australian mineral exploration expenditure reached a record $1714.6 million in 2006-2007 according to the recently released Australian Mineral Exploration Review. Expanding 38% from the previous year, the Review shows an increase in spending across all States and the Northern Territory.

Click to enlarge - Australian mineral exploration expenditure for 2006-07 by commodity. (Copyright Geoscience Australia)

Produced annually since 2001, the Review examines levels and trends in exploration in a national and global context, and highlights government programs designed to help reduce the inherent risk in exploration.

The 2007 edition features the first major surveys conducted under Geoscience Australia’s $59 million five-year program to stimulate discovery of hydrocarbon and energy minerals in onshore Australia.

Exploration results were also announced for a wide range of commodities from across the country including:

  • a major increase in resources in the South Australian Olympic Dam deposit;
  • an initial gold resource in the Tropicana deposit, Western Australia; and
  • continuing successful exploration for mineral sands in the Eucla Basin in South Australia and Western Australia.

Download Australian Mineral Exploration: A Review of Exploration for the Year 2007. [pdf 1mb]