6.0 Exploration Expenditure
CHART 6.1 QUEENSLAND EXPLORATION EXPENDITURE – 2010-11 TO 2024-25 Source: ABS Mineral and Petroleum Exploration, Australia
1600
Other mineral exploration expenditure Total coal exploration expenditure Total petroleum exploration expenditure
1400
1200
1000
800
600
400
200
0
Total Petroleum exploration expenditure Other mineral exploration expenditure
Total Coal exploration expenditure
The growth in exploration expenditure recorded over the past seven years has reversed sharply in 2024–25. Queensland’s total exploration expenditure declined by 14.6%, with coal exploration experiencing the steepest fall at 18%, followed by minerals at 14.1% and petroleum at 12.4%. When considered against the backdrop of escalating input costs, these reductions suggest an even more pronounced contraction in exploration activity than the expenditure figures alone indicate. In June 2021, the Australian minerals exploration sector was spending around $258 for every metre drilled. By June 2025, this ratio had risen by 41% to $365 per metre drilled. While drilling costs have eased from the historic peak of $451 per metre reached in March 2024, the overall cost environment remains significantly higher than earlier years, adding further pressure to exploration budgets.
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