This year’s Scorecard shows that increased costs due to inflation and environmental regulations have equal highest burden on explorers. This was followed by policy uncertainty at the Commonwealth and state levels (see Chart 4.4.1). Sentiment continues a gradual improvement seen in the 2024 and 2025 survey results. Of the negatively rated categories the majority (10 out of 15) experienced an improvement in the sentiment from last year, albeit remaining negative. Notable improvement in sentiment was observed in Departmental/Government assistance (+12 points), land available for exploration (+14 points) and approvals (+10 points).
The following categories bucked the positive trend and showed worsening sentiment compared to last year and are discussed in further detail below.
• Increased costs due to inflation • Environmental regulations • Policy uncertainty (Commonwealth) • Native Title regulations • Access to investment capital
Average sentiment across all categories (excl. COVID-19 related factors)
CHART 4.4.2 AVERAGE SENTIMENT FOR ALL CATEGORIES (EXCLUDING COVID-19 FACTORS)
0
-5
-10
-15
-20
-25
The slight positive upswing this year is an encouraging improvement in sentiment and is trending away from the historical low record in 2022-23.
EXPLORATION SCORECARD 2025
27
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