Australian Bureau of Statistics released last week show the impact of COVID-19 with a decline in mineral exploration expenditure for the March 2020 quarter.
Mineral exploration expenditure fell 20.1% (-$151.0m) to $602.1m with Brownfield exploration also dropping 16.0% (-$71.8m) and greenfield expenditure fell 26.1% (-$79.2m).
Metres drilled for greenfields exploration fell 12.3%, and brownfields drilling fell 19.9%. The largest decrease by minerals sought came from expenditure on Selected Base metals down 28.8%, (-$57.5m).
In original terms, metres drilled fell -17.3%. Drilling in areas of new deposits fell -12.3% and drilling in areas of existing deposits fell -19.9%.
The seasonally adjusted estimate for total petroleum exploration expenditure fell 22.2% (-$83.7m) to $293.9m in the March quarter 2020. Exploration expenditure on all other areas fell 31.5% (-$85.3m) and exploration on production leases rose 1.5% ($1.6m).
The largest contributor to the fall in the seasonally adjusted estimate was Queensland (down 45.5%, -$32.3m).
The seasonally adjusted estimate for onshore petroleum exploration expenditure fell 25.1% (-$50.8m) to $151.7m in the March quarter 2020. Expenditure on drilling fell 10.9% (-$15.0m) and other onshore petroleum exploration fell 54.9% (-$35.9m)
The seasonally adjusted estimate for offshore petroleum exploration expenditure fell 18.8% (-$32.9m) to $142.2m in the March quarter 2020. Expenditure on drilling fell 52.7% (-$44.0m) and other offshore petroleum exploration expenditure rose 12.1% ($11.1m).
Last year experienced significant growth in greenfields mineral exploration expenditure in most States, with mineral exploration increasing in every quarter.
Total expenditure fell in the Northern Territory by 29%, New South Wales by 27%, Queensland by 24%, Western Australia by 19%, South Australia by 14%, and Tasmania by 30%. Victoria rose by 3% on the back of recent discoveries by Chalice Gold Mines and Stavely Minerals.
