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Australia Exploration at 7-Year High on Clean-Energy Metals Push

  • Report shows A$877 million was invested in third quarter
  • Miners digging deeper on surging prices for battery metals
Photographer: Cole Burston/Bloomberg
Updated on

The hunt for metals critical to the clean-energy transition has seen spending on minerals exploration in Australia surge by nearly a third in the September quarter to a seven-year high.

Spending was A$877 million ($618 million) in the three months to Sept. 30, up from A$666 million in the June quarter, according to a report by business advisory firm BDO. The rise continued the revival in investment from a trough in 2016, driven by surging prices for battery metals such as copper, nickel and lithium.