By Christopher Galbraith | 08 February 2017
Australia's exploration budget allocations totaled US$897 million in 2016, a drop of US$171 million from the previous year. While the 16% decline was not as drastic as the decline in the global budget, the Australia total nevertheless represented a 10-year low. The number of companies exploring in Australia also hit a low at 408 in 2016, compared with 450 in 2015.