PERTH (miningweekly.com) – Mineral exploration expenditure in the September quarter increased by 3% on the previous corresponding period, new data from the Australian Bureau of Statistics has shown.

The Association of Mining and Exploration Companies (Amec) on Monday said that the increase in exploration spend demonstrated the strength of Australia’s mineral exploration, and its strong growth despite Covid-19.

Mineral exploration expenditure grew 9%, up A$61.6-million in the September quarter 2020 compared to the previous quarter, to A$744.9-million, with greenfield expenditure lifting 12%, up A$28.5-million, to A$257.5-million, and brownfield expenditure rising 7%, or A$33.1-million, to A$487.4-million.

Meters drilled for greenfield exploration climbed 23% while brownfield rose 17%.

Amec pointed out that the largest increase of minerals sought came from expenditure on silver, lead and zinc, which was up 55.9% to A$13.1-million, while nickel and cobalt expenditure was up 17.2% to A$48.9-million, and gold was up 17% to A$356.1-million, while diamonds increased by 140% to A$1.2-million.

Iron-ore exploration expenditure also increased by 12.5% to A$111-million.

“The continued increase in greenfield mineral exploration expenditure this quarter comes off the back of significant capital raisings in the June quarter with A$1.34-billion raised across the exploration sector, supporting new exploration programmes,” said Amec CEO Warren Pearce.

“The ability of Australian mineral exploration and mining companies to continue operating where possible, in adherence with Covid-19 restrictions, has driven interest in mineral exploration following a number of recent promising discoveries in multiple jurisdictions.”

Total expenditure rose in Western Australia by 17.2%, Northern Territory by 15.6%, Queensland by 9.3%, and Tasmania by 65%. However, expenditure in those jurisdictions more affected by Covid-19 fell with New South Wales falling by 21.38%, Victoria by 12.85%, and South Australia by 10.71%.

“Western Australia’s minerals sector continues to lead the nation’s emergence from Covid-19 constraints. Total expenditure grew by A$70.9-million to A$483.3-million.

“Today’s figures should give further confidence to investors that Australia’s mineral exploration companies continue to work hard to discover new mines.

“The discovery and development of new mines will continue to provide jobs and ongoing economic and social benefits for Australians,” said Pearce.