In 2021, Australia's mineral exploration sector remained on solid ground. Major mining companies took advantage of strong price-cost margins while maintaining a risk-averse strategy of enhancing value at already-producing assets. Global exploration budgets targeting Australia increased 38.8% year over year in 2021 to $1.90 billion, exceeding the average global budget growth rate of 35.0%.Western Australia remained the most popular exploration destination, especially for gold and copper. Allocations to the state alone totaled US$1.3 billion in 2021, up 50.1% year over year and increasing the state's share of the country's total budget to 70.8% from 65.5% in 2020.Gain critical insights into the Australian mining sector in 2021:
- Australia exploration budget trends
- Share of global production by key commodities
- Share of global reserves and resources by key commodities
- Drillholes and project trends by commodity
- Country share of Australian copper, iron ores and zinc exports
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