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Australian companies’ spending on resources exploration at home and abroad hit the highest in seven years in the June quarter, spurred by strong price gains across a range of commodities as the global economy recovers from the pandemic.
Explorers listed on the Australian Stock Exchange spent A$666 million ($488 million) in the three months to June 30, according to a study by business advisory firm BDO. That was 34% above the two-year average and the highest quarterly spend since the March quarter of 2014.