Updated: 26 August 2005

Australian Mineral Exploration: A Review of Exploration for the Year 2003

Summary

Australian mineral exploration spending in 2002-03 rose by 14.4% to $732.5, the first significant increase since 1996-97.
Global non-ferrous mineral exploration budgets rose 26% to an estimated US$2.4 billion in 2003. Australia's share of reported world budgets was US$339.3 million (15.5%).
All States and the Northern Territory recorded increases in mineral exploration activity. Western Australia dominated with $423.6 million, 57.8% of total Australian mineral exploration expenditure in 2002-03.
Gold was the major commodity sought with spending of $378.4 million, 51.7% of the total. There were significant increases in iron ore, coal and nickel exploration.
Company exploration activities generated a significant number of drill intersections of economic interest, particularly for gold and nickel, in several mineral provinces. A number of junior companies commenced production of nickel and/or have nickel projects at an advanced stage.