MINERAL exploration in Australia has declined by more than $57.1 million in the September 2013 quarter, showing exploration activity had dropped by around 31.4% over the past 12 months, the Australian Bureau of Statistics has revealed.

According to the latest quarterly release of the Mineral and Petroleum Exploration, Australia report, mineral exploration expenditure has dropped by 8.5% to $612.1m since June 2013, the largest contribute to the decline coming from Western Australia ($33.6m).

While still strong against a peak earlier this year, petroleum exploration has also dropped in trending terms by $29.6m to $1111.7m. Onshore exploration activity dropped by 4.4%, or $16.6m to $361.1m in the last quarter, while offshore exploration activity only fell by 1%, or $8.5m to $810m.

A number of state-based initiatives to cut red tape and boost exploration activity are now in effect since October and are expected to ease the decline in exploration expenditure in future.

Among such states is Queensland, where, in seasonally adjusted terms, petroleum exploration dropped by 46.5% or $135.9m. A 90-day approval process for explorers is expected to revive exploration activity across the state.

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