Original article by Tess Ingram
The Australian Financial Review – Page: 18 : 1-Sep-15
The national spend on exploration fell 33 per cent year on year to $A322 million in the June 2015 quarter, according to the Australian Bureau of Statistics. It fell to its lowest level in nine years as miners cut back on costs and expenditure in the face of declining commodities prices. But it was not all bad news. The number of metres drilled was down only nine per cent, suggesting the industry was getting more for its money as costs were slashed in the search for the next generation of mines.
AUSTRALIAN BUREAU OF STATISTICS, MINEX CONSULTING PTY LTD, ASSOCIATION OF MINING AND EXPLORATION COMPANIES