Australia: Investment in mining exploration rose 4.5% in the second quarter from a year earlier
2022 09/19
Investment in mining exploration in Australia increased by 44.5 million Australian dollars (US $30.19 million) in the second quarter of 2022 to exceed A $1.02 billion (US $690 million), up 4.5% year on year, data from the Australian Bureau of Statistics showed recently.
By mineral category, exploration investment in iron ore, nickel and cobalt was up 44 per cent, 24 per cent and 24 per cent respectively in the second quarter compared with the same period last year. On a state-by-state basis, investment in mining exploration in New South Wales, Victoria and Queensland rose 14 per cent, 1 per cent and 9 per cent year on year respectively; Mining exploration investment in South Australia, Western Australia, Tasmania and the Northern Territory rose 16 per cent, 28 per cent, 92 per cent and 48 per cent, respectively, compared with the previous year. Over the same period, investment in greenfield exploration in the country rose 2 per cent year on year.