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2 clusters · 9 sources · 1 days · First seen · Last updated

Australian mineral exploration activity

Overview

Australian mineral exploration has seen significant activity, particularly in the gold sector. In Western Australia, gold exploration investment reached a record high since 1988, with the state accounting for over 70 per cent of the nation’s total mineral exploration expenditure during the June quarter. Total national spending rose by nearly 25 per cent to approximately $1.19 billion, driven largely by gold, which accounted for $565.6 million of the total.

While iron ore investment also reached high levels, nickel exploration spending declined to its lowest point since 2017. Industry observers noted that despite high drilling activity, the sector faces rising costs and potential impacts from federal capital gains tax changes.

Specific drilling results have further highlighted resource potential. In Western Australia, GoldArc Resources reported a ‘genuinely blind gold system’ at its Whistler prospect. Meanwhile, in New South Wales, Waratah Minerals identified shallow gold that suggests the Spur Zone discovery may extend westward beneath cover.

Entities

Australian Bureau of Statistics · Spur project · Western Australia · Leonora South Gold Project · GoldArc Resources

Timeline

  1. 11 days ago

    [BUSINESS] 6 sources
    Western Australia leads Australian mineral exploration spending

    Western Australia led Australian mineral exploration in the June quarter, spending $843.6 million, primarily targeting gold and iron ore, according to Australian Bureau of Statistics data.

  2. 12 days ago

    [BUSINESS] 3 sources
    Australian gold explorers report significant drilling results

    GoldArc Resources and Waratah Minerals report significant drilling results in Australia, uncovering blind gold systems in Western Australia and potential zone extensions in New South Wales.

Sources

australianmanufacturing.com.au · australianmining.com.au · brisbanetimes.com.au · insidewater.com.au · mining.com.au · psnews.com.au · stockhead.com.au · theage.com.au · thewest.com.au