Australia continues to invest in mineral exploration
13 March 2008
Australian mineral exploration expenditure reached a record $1714.6 million in 2006-2007 according to the recently released Australian Mineral Exploration Review. Expanding 38% from the previous year, the Review shows an increase in spending across all States and the Northern Territory.
Produced annually since 2001, the Review examines levels and trends in exploration in a national and global context, and highlights government programs designed to help reduce the inherent risk in exploration.
The 2007 edition features the first major surveys conducted under Geoscience Australia's $59 million five-year program to stimulate discovery of hydrocarbon and energy minerals in onshore Australia.
Exploration results were also announced for a wide range of commodities from across the country including:
- a major increase in resources in the South Australian Olympic Dam deposit;
- an initial gold resource in the Tropicana deposit, Western Australia; and
- continuing successful exploration for mineral sands in the Eucla Basin in South Australia and Western Australia.
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