Mineral and petroleum exploration expenditure in South Australia decreased by $18.2 million in the March quarter according to statistics released by the ABS.
South Australia’s share of the national expenditure fell from 9.1 per cent in 2014-15 to 5.6 per cent in 2015-16.
This drop in mineral and petroleum exploration expenditure equates to a reduction of $90.3m of the national share.
Mineral exploration expenditure has reach its lowest level since March 2004.
“Minister Koutsantonis must explain why SA suffering so much more than other states when the downturn in international commodity prices affects all states equally”, said Dan van Holst Pellekaan, Shadow Minister for Mineral Resources and Energy.
“It is extremely important that we maximise the benefits of mineral and petroleum exploration in SA.
“Contractors and supply chain businesses rely on expenditure from mineral and petroleum exploration.
“South Australia needs to push ahead with projects like the upgrade to the Strzelecki Track to maximise these benefits.”