Industry Analysis & Industry Trends
The Mineral Exploration industry sets the scene for the future development, production and export of mineral resources. Mineral exploration results in discoveries of the ore bodies that are subsequently exploited.
Over the five years through 2012-13, revenue from mineral exploration activities has risen at an annualised 5.4% to reach $2.06 billion. This growth reflects much higher mineral commodity prices over this period. Despite the overall growth, mineral prices have fluctuated substantially over the five years and industry revenue has tended to follow. This has been a prevalent trend for base metals and iron ore products, which command a large portion of exploration activity... purchase to read more
Industry Report - Industry Locations Chapter
Exploration spending varies considerably between states and reflects information regarding prospective areas for mineral deposits.
Western Australia accounts for over half of all mineral exploration spending in Australia. Its share peaked at about 62% in the late 1990s and early 2000s, when spending on gold exploration in the state was very high. A large part of the exploration spending in Western Australia is still represented by the search for gold (over one-quarter of the total), but exploration for iron ore has increased sharply over the past five years in response to higher prices, with spending accounting for almost half the state total... purchase to read more