Updated: 27 September 2006

Australian Mineral Exploration: A Review of Exploration for the Year 2005

Summary

Australian mineral exploration spending in 2004-05 rose by 31% to $1028.3 million of which 39.3% was spent on the search for new deposits.
Total global non-ferrous mineral exploration budgets rose 38% to an estimated US$5.1 billion in 2005.
Western Australia received 59% of Australian mineral exploration spending in 2004-05 as spending rose in all States except Victoria.
Gold remained the main target but its share of spending was eroded by increased spending on nickel, copper, iron ore, coal and uranium.
Exploration resulted in significant increases in resources at known deposits and a substantial number of drill intersections of economic interest, the most notable being the discoveries of copper-gold mineralisation at Carrapateena (Gawler Craton), mineral sand in the Eucla Basin, and gold at the Trident deposit (Yilgarn Craton).