PERTH (miningweekly.com) – Total mineral exploration expenditure across Australia increased by 5.2% to A$629.6-million in the June quarter compared with the previous quarter, new data from the Australian Bureau of Statistics (ABS) found.

More than A$2.3-billion was spent on minerals exploration in 2018/19.

The ABS found that exploration expenditure in the June quarter rose in every state, with Western Australia being the largest contributor, with a rise of A$22.9-million.

Metres drilled fell 1.2% for the quarter but was still 4.7% higher than the June quarter estimate for the previous year. 

Greenfield mineral exploration expenditure continued another quarter of growth in all states except for Victoria where it fell by A$1.6-million, declining for the third consecutive quarter, while Western Australia recorded A$184.3-million of exploration expenditure, the second highest on record. 

In brownfields, mineral exploration expenditure grew in Victoria, Queensland, Western Australia and Tasmania, but remained the same in New South Wales, and dropped for South Australia and Northern Territory. 

The Association of Mining and Exploration Companies (Amec) on Monday said that the increase in mineral exploration expenditure was pleasing to see, after the drop reported in the March quarter.

“Australia needs greater greenfields mineral exploration, and the significant growth in greenfields mineral exploration expenditure right across the country reflects the returning strength of the exploration sector,” Amec CEO Warren Pearce said.

“It has been a challenging environment for mineral exploration companies, however, the statistics are now supporting better growth in the industry. Australia needs to continue to invest in mineral exploration to find the mines of the future and unlock the jobs and growth still waiting to be discovered,” said Pearce.

The Minerals Council of Australia on Monday said that the mining industry needed stable policy settings from both state and federal governments to continue to deliver benefits for all Australians.

CEO Tania Constable noted that the recently announced Productivity Commission inquiry into resources sector regulation was a welcome first step in ensuring state and federal governments had the policy settings that continue to support mining and even greater investment in exploration to develop Australia’s next wave of critical mineral, base metal and gold mines.

“This exploration investment is creating and supporting jobs throughout the country, especially in regional Australia. 

“When exploration investment translates to minerals production, Australia is the big winner. Mining is the country’s largest source of export revenue and has generated A$212-billion in company tax and royalties for Australia over the last decade,” Constable said.