Australian mining exploration spending rises, tin prospects grow near Renison

Australia’s mineral exploration expenditure remained strong in the March quarter, driven by a sharp rise in gold spending (+53% year‑on‑year) and increased investment in silver, lead, zinc and other deposits (+30% to +12%). By contrast, spending on copper, cobalt, coal and iron ore fell, with iron‑ore exploration modestly up ($186 million, +4.7%). Lithium exploration continued its long‑term growth, while nickel and cobalt outlays declined. On the energy side, on‑shore petroleum exploration increased to $269 million, although offshore activity dropped over 40%.

Separately, Stellar Resources secured a state‑approved exploration licence for the Ringville area immediately east and south of the Renison tin mine. The licence covers 29 historic mineral occurrences, including former tin workings, and the company’s managing director Simon Taylor described the area as "exceptionally prospective" for major tin mineralisation. Stellar plans to link the Ringville project with its Heemskirk tin project as the pre‑feasibility study nears completion in 2026.