$16.5 million spent on critical mineral exploration in Tasmania's June quarter
Tasmania recorded record resource exploration spending of $16.5 million in the three months to June 30, driven by high prices for tin and tungsten.
Exploration spending in Tasmania reached a record $16.5 million during the three months ending June 30. This figure represents a 46% year-on-year increase and surpasses the $14.3 million recorded in the previous December quarter. The surge is attributed to record-high pricing for tin and tungsten, alongside strong performance for gold, copper, antimony, and zinc. While national Australian exploration spending also hit a record near $1.2 billion in the same period, drilling metres remain below 2021 levels due to inflation affecting costs and labor shortages. For the fiscal year ending June 30, 2026, explorers invested $55.8 million in Tasmania, marking an increase from $39.3 million spent in FY25. This activity highlights a shift toward modernizing key resources in the state's smallest territory as miners target critical minerals.
