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ARTICLE · 08 APRIL 2008

Can Exploration Keep Up With Demand?

In spite of Australia's strength as a resource exporter, there are clear signs that exploration is declining, and this is something that will significantly impact the sector in the short, medium and long term.

AustraliaEnergy and Natural Resources
Denis Gately
Denis Gately

In spite of Australia's strength as a resource exporter, there are clear signs that exploration is declining, and this is something that will significantly impact the sector in the short, medium and long term.

The Australian Bureau of Statistics 2008 Yearbook reveals that Australian mineral exploration expenditure in 2006-07 was A$1.7billion – the highest in more than 30 years. But these figures disguise the fact that Australia's share of global aggregate exploration expenditure has been declining since 2002 and that the discovery of new deposits in this country, especially large, world-class deposits, has been meagre over the past decade.

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