NSW Mining Exploration spending on the up as industry growth continues

September 14, 2017

NSW Mining Exploration spending on the up as industry growth continues


There’s more encouraging signs for the future of the NSW Mining industry with a strong increase in exploration spending. Exploration investment in NSW increased 32% in the June quarter, the strongest result in four years.


“This strong investment in exploration spending is good news for future growth in the NSW Mining industry. This result further highlights the strong year of recovery for the NSW mining industry with increasing export demand, increasing commodity prices and 1,000 more jobs than this time last year,” NSW Minerals Council CEO Stephen Galilee said today.


“The exploration sector is critical to the future success of mining in NSW, and the long term economic future of much of regional NSW.”


In NSW, the exploration expenditure increased from $36.7m in the previous quarter to $45.3m in the June quarter. Base metal exploration accounted for most growth, up by 81% from the previous quarter to $23.5m, while gold exploration increased by 6.8% to $12.4 m for the quarter.


”A strong minerals exploration industry means a strong mining industry. A strong state mining industry means a strong NSW.”




Contact: Harry Stutchbury | hstutchbury@nswmining.com.au | 0409 758 734 | 02 9274 1419

 

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