Mining exploration falls, petroleum lifts

Monday 1 September 2014

The Australian Bureau of Statistics (ABS) today released its Mineral & Petroleum Exploration data for the June quarter, which revealed a sharp fall in mineral exploration expenditure, but a large lift in petroleum exploration expenditure.

Nationally, expenditure on minerals exploration fell by a seasonally-adjusted $35.8 million (-7.5%) over the June quarter. The fall was driven by Queensland, where exploration expenditure fell by $30.2 million (-24.5%):

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About the author

Leith van Onselen is Chief Economist at the MB Fund and MB Super. He is also a co-founder of MacroBusiness. Leith has previously worked at the Australian Treasury, Victorian Treasury and Goldman Sachs.