EXPLORATION & DEVELOPMENT

2021 shaping up to be a big one for exploration

EXPLORATION expenditure rose by 7.7% in the September quarter to A$982.4 million, according to the Australian Bureau of Statistics.

Staff reporter
2021 shaping up to be a big one for exploration

"Nationally, mineral exploration expenditure for the September 2021 quarter was 32% ($237.5 million) higher than September 2020," Association of Mining and Exploration Companies CEO Warren Pearce said.

"The last year has seen a period of significant growth for industry, despite the many challenges faced due to the COVID-19 pandemic.

"As mineral exploration continues to rise, it is encouraging to see the strength of our industry in supporting Australia's recovery from the effects of COVID-19."

Greenfield expenditure rose 11.5%, or by $35.6 million, to $346.1 million in the period, and brownfields expenditure was up 5.8%, or $34.8 million, to $636.3 million.

"The September 2021 quarter shows that greenfield exploration remains a priority for industry. The ongoing growth in greenfield expenditure demonstrates industry's commitment to discovering mines of the future," Pearce said.

"In particular, the Northern Territory has had a strong quarter, with greenfields exploration increasing 46% ($4.7 million) from the June 2021 quarter.

"Queensland and New South Wales also performed well with growth of 44% ($16.9 million) and 43% ($10.3 million) respectively, compared to last quarter."

Gold exploration plateaued, while iron ore exploration rose 15.8% to $174.6 million.

Exploration for minerals other than gold, iron ore, coal or base metals surged 37.8%.

Silver and lead exploration was up 30%, mineral sands up 30% and uranium up 31%.

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