Significant increase in the cost of mineral exploration in Australia
Mining News Pro - Mineral exploration costs in Australia rose to the highest since 2013.

According to Mining News Pro - Mineral exploration costs in Australia rose by 26.6 percent to 563.4 million dollars in the second quarter of this year, the highest since the third quarter of 2013.

During this time, the cost of exploration of base metals also increased by 38% to the highest level since the end of the last quarter of 2012.

During the same period, the gold exploration cost was $ 223 million, the highest since the second quarter of 1997.

The total number of drilling in new reserves reached the highest level in the last 6 years, more than triple the sum of the first trimester drilling in 2016. Iron ore and coal also accounted for 51% of total exploration costs.

Australia is the second-largest producer of gold and the world`s sixth-largest copper producer, which plans to increase lithium production from 38% to 50% of global production over the next five years.

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