The Mineral Exploration industry's role in the mining supply chain is to identify a pipeline of economically proven resources for the future development, production and export of mineral resources. Mineral explorers locate ore bodies that can subsequently be mined and provide data so that companies can evaluate the viability of deposits. Activity within the industry is often taken as a lead indicator for mineral output, and the industry's performance moves ahead of extraction industries in the Mining division. Spending on exploration activities is influenced by the Australian dollar price of mineral commodities and sentiment within the Mining division.
Firms in this industry explore for minerals (except for crude petroleum or natural gas) either on their own account or on a contractual basis. The industry includes the in-house exploration activities of mining companies and the activity of firms undertaking exploration on a fee or contract basis for other companies and firms providing exploration services.
The report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecast, growth rates and an analysis of the industry key players and their market shares.