Industry Analysis & Industry Trends
In the five years through 2014-15, the Oil and Mineral Exploration Drilling industry has followed a volatile growth path. The industry provides services for mining companies engaged in greenfield oil and mineral exploration. This is the riskiest area of the Mining division, where companies are engaged in looking for new and economically viable deposits of resources. Expenditure on greenfield exploration fluctuates significantly year on year in line with small miners' ability to access capital. When commodity prices fall or sentiment around the Mining division declines demand for greenfield exploration services rapidly adjusts. In 2011-12 and 2012-13, drops in demand have resulted in contractions in industry revenue... purchase to read more
Industry Report - Industry Locations Chapter
With the commodity mining boom in Australia in the past decade, mining activity has been focussed on Western Australia, which is rich in mineral resources. Many mining companies have explored potential commodity deposits to determine the extent of resources. This has created significant demand for exploration drilling activity in Western Australia. With exploration drilling companies being heavily reliant on mining companies for contracts and demand, the industry's prospects largely follow the fortunes of the mining sector in Western Australia, as well as changes in commodity prices.
Queensland has extensive mineral resources and is the second-largest state for industry activity... purchase to read more