Mineral deficiency: Weaker commodity prices have undermined industry activity

IBISWorld’s Mineral Exploration market research report is a comprehensive guide to market size and growth prospects. Our industry reports offer strategic industry analysis of the factors influencing companies, including new product developments, economic, lifestyle and demographic influences, distribution and supply chain factors and pricing issues. Full analysis accompanies our data forecasts to illustrate how the market responds to emerging industry trends.


Market Share of Companies
There are no companies with a dominant market share in this industry
Industry Statistics & Market Size
Annual Growth
2013 - 2018
Annual Growth
2018 - 2023

Industry Threats & Opportunities

  • Industry activity is often taken as a lead indicator for Mining division output
  • Falling commodity prices have caused firms to scale back exploration budgets over the period
  • The Mineral Exploration industry is expected to remain subdued over the next five years

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    Industry Analysis & Industry Trends

    The Mineral Exploration industry’s role in the mining supply chain is to identify a pipeline of economically proven resources for the future development, production and export of minerals. Mineral explorers locate ore bodies that can be mined, and provide data so that companies can evaluate the viability of deposits. Industry activity is often taken as a lead indicator for mineral output and the industry’s performance moves ahead of extraction industries in the Mining division. Spending on exploration activities is influenced by the global prices of different mineral commodities, the strength of the Australian dollar and sentiment in the Mining industry...

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    Industry Report - Industry Investment Chapter

    The industry displays a moderate level of capital intensity. In 2017-18, for every dollar invested in capital, an estimated $3.39 is spent on wages. Industry players invest in a range of capital machinery and equipment that is used for drilling, testing and transport. Although some firms lease this machinery and equipment to reduce their initial and ongoing capital costs, most companies buy this equipment and depreciate it over its useful life.

    While industry participants do invest substantially in capital equipment, they also rely on highly trained employees. Skilled workers such as mechanical engineers are required to operate and maintain equipment, while geologists are needed to guide and interpret exploration results. Exp..

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    Additional Insights for the Mineral Exploration Industry

    IBISWorld identifies 250 Key Success Factors for a business.The most important for the Mineral Exploration Industry are

  • Economies of scope
  • Downstream ownership links
  • Ability to expand and curtail operations rapidly in line with market demand
  • IBISWorld analysts also discuss how external factors such as Actual capital expenditure on mining and US dollars per Australian dollar in the Mineral Exploration industry impact industry performance..

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    Industry Products

    What is the Mineral Exploration Industry?

    Industry firms explore for minerals either on their own account or on a contractual basis. The industry excludes firms that explore for crude petroleum and natural gas.

    Industry Products
    Iron ore exploration
    Gold exploration
    Base metals and silver exploration
    Coal exploration
    Uranium exploration
    Mineral sand exploration
    Diamond exploration
    Other mineral exploration
    Industry Activities
    Iron ore exploration services
    Gold exploration services
    Coal exploration services
    Base metal exploration services
    Other mineral exploration services

    Table of Contents

    About this Industry
    Industry Definition
    Main Activities
    Similar Industries
    Additional Resources
    Industry at a Glance
    Industry Statistics Snapshot
    Industry Structure
    Executive Summary
    Industry Performance
    Executive Summary
    Key External Drivers
  • Actual capital expenditure on mining
  • US dollars per Australian dollar
  • Domestic price of black coal
  • World price of copper
  • World price of gold
  • World price of iron ore

  • Current Performance
  • Industry structure
  • Revenue volatility
  • Industry participation contracts
  • Chart: Revenue Growth

  • Industry Outlook
  • Risk and reward
  • Industry participation and regulation
  • Table: Mineral Exploration Industry Revenue Outlook

  • Industry Life Cycle
  • Life cycle reasons
  • Chart: Benchmarking - Mineral Exploration Industry Lifecycle vs The Economy

  • Products & Markets
    Supply Chains
    Key Buying Industries
  • Black Coal Mining
  • Iron Ore Mining
  • Bauxite Mining
  • Copper Ore Mining
  • Gold Ore Mining

  • Key Selling Industries
  • Medical and Scientific Equipment Wholesaling
  • Mining and Industrial Machinery Wholesaling
  • Petroleum Product Wholesaling

  • Products & Services
  • Gold exploration
  • Base metals and silver exploration
  • Iron ore exploration
  • Other mineral exploration
  • Coal exploration
  • Uranium exploration
  • Mineral sand exploration
  • Diamond exploration
  • Chart: Mineral Exploration Industry Products and Services Segmentation

  • Demand Determinants
    Major Markets
  • Established miners
  • Junior miners
  • Chart: Major Market Segmentation for the Mineral Exploration Industry

  • International Trade
    Business Locations
    Chart: Business Locations by State
    Competitive Landscape
    Market Share Concentration
    Key Success Factors
    Cost Structure Benchmarks
  • Chart: Cost Structure Benchmarking – Sector vs Mineral Exploration

  • Basis of Competition
    Barriers to Entry
  • Table: Barrier to Entry Checklist for the Mineral Exploration Industry

  • Industry Globalization
    Major Companies
    There are no major players in this industry
    Operating Conditions
    Capital Intensity
  • Chart: Level of Capital Intensity for the Mineral Exploration Industry
  • Chart: Tools of the Trade: Growth Strategies for Success

  • Technology & Systems
    Revenue Volatility
  • Chart: Volatility vs Industry Growth

  • Regulation & Policy
    Industry Assistance
    Key Statistics
    Table: Industry Data for the Mineral Exploration Industry
  • Industry Revenue (2009-2023)
  • Industry Gross Product (2009-2023)
  • Establishments (2009-2023)
  • Businesses (2009-2023)
  • Employment (2009-2023)
  • Wages (2009-2023)

  • Table: Annual Percentage Change for Key Industry Data
    Table: Key Ratios for Industry Key Data
    Jargon & Glossary
    Base Metals
  • A term generally used to collectively refer to copper, lead, zinc, nickel and tin.
  • Brownfield Exploration
  • Exploration that is undertaken near an existing mine site.
  • Greenfield Exploration
  • Exploration that is undertaken in prospective areas that are not currently being mined.
  • Inferred Mineral Resource
  • A deposit where the grade, mineral content and production volume can only be estimated with a low level of confidence.
  • Why buy this report?

    IBISWorld industry market research reports enable you to:
    • Find out about key industry trends
    • Identify threats and opportunities
    • Inform your decisions for marketing, strategy and planning
    • Quickly build competitive intelligence
    This report on Mineral Exploration:
    • Provides Market Size information to assist with planning and strategic decisions.
    • Includes the necessary information to perform SWOT, PEST and STEER analysis.
    • Helps you understand market dynamics to give you a deeper understanding of industry competition and the supply chain.
    • Analyses key performance and operational metrics so that you can benchmark against your own business, that of your customers’ businesses, or your competitors’ businesses.
    The Mineral Exploration market research report includes:
    • Historical data and analysis for the key drivers of this industry
    • A five-year forecast of the market and noted trends
    • Detailed research and segmentation for the main products and markets
    • An assessment of the competitive landscape and market shares for major companies
    • And of course, much more

    IBISWorld reports on thousands of industries around the world. Our clients rely on our information and data to stay up-to-date on industry trends across all industries. With this IBISWorld Industry Research Report on Mineral Exploration, you can expect thoroughly researched, reliable and current information that will help you to make faster, better business decisions.

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