Updated: 26 August 2005

Australian Mineral Exploration: A Review of Exploration for the Year 2004

Summary

Australian mineral exploration spending in 2003-04 rose by 7.4% to $786.7 million of which 39% was spent on the search for new deposits.
Total global non-ferrous mineral exploration budgets rose 58% to an estimated US$3.8 billion in 2004.
All States except New South Wales and the Northern Territory recorded increases in mineral exploration activity. Western Australia dominated with $465.8 million, 59.2% of total Australian mineral exploration expenditure in 2003-04.
Gold was the major commodity sought with spending of $397.1 million, (50.5% of the total). There were significant increases in iron ore, nickel and uranium exploration.
Company exploration activities generated a significant number of drill intersections of economic interest, particularly for gold and nickel, in a number of mineral provinces.