FIGURES released by the Australian Bureau of Statistics for the 2005-061 financial year indicate record levels of mineral exploration investment in South Australia and the state attracting its highest ever reported share of Australia’s mineral exploration.
The Association of Mining and Exploration’s (AMEC) policy and public affairs manager Ian Loftus, said: “the ABS figures indicate mineral exploration in South Australia moved from $166.4 million in 2004-05 to some $218.8 million – effectively a 31.5% increase.”
“Even more impressive has been the dramatic increase in South Australia’s share of Australia’s mineral exploration over the same period - it has more than doubled having been some 6.51% in 2004/2005 and 11.81% in 2005/2006,” Loftus said.
“The ABS figures continue the growing trend in South Australia over the past five years where from 2001-02 to 2005-06 the state’s mineral exploration expenditure increased by 356.4%.”