According to the ABS, mineral exploration was up 33% year-on-year to A$912 million for the June quarter, after a dip in the March quarter, taking the total spend by miners over the first half to $1.65 billion.
The latest exploration data, released yesterday, showed gold exploration activity had jumped 41% year-on-year, with miners spending $430 million over the June quarter alone hunting the yellow metal.
Iron ore exploration jumped 53% to $151 million over the three months. It came on the back of record high iron ore prices.
Iron ore prices hit well above $200/tonne over the last six months, before falling, and stabilising at around $150/tonne currently.
According to BIS Oxford Economics principal economist Nicholas Fearnley, with iron ore prices now subdued but still strong, exploration activity will fall over the medium term.
Exploration for copper also roared up 44% year-on-year to $120 million which was also due to strong global demand which pushed up commodity prices.
Fearnley said he expected copper exploration activity to "remain elevated over the coming years".
It wasn't all good news, however, coal exploration dropped nearly 40% to $55 million, hampered by China's boycott of Australian coal in October.
Exploration rose in all states and territories, aside from Tasmania, with a 30% fall.
Association of Mining and Exploration Companies CEO Warren Pearce said the industry was performing strongly despite continuing COVID-19 restrictions.
Greenfield expenditure increased 23% to $310.5 million and brownfield expenditure increased 25% to $601.5 million.
"Despite greater restrictions around accessing remote locations, greenfields exploration has flourished safely around Australia, helping to discover future mines," Pearce said.
"Investment into Australian mineral exploration is vital for the future of the mining industry and today's figures hold the promise of more jobs and economic growth to come."
Fearnley said the data affirmed his positive outlook for the mining sector.
"The expectations survey points to $1677 million in activity over the second half of the year, but actual expenditure tends to be around 10% higher than expectations," he said.
