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NSW Minister for Mineral Resources Ian Macdonald said figures for Australian mineral exploration for 2005-06 show that private mineral exploration expenditure for NSW rose 55% over the previous year.

“Private exploration investment in NSW has gone from $51 million in 2003-04 to $114 million in the past year,” he said.

While the figure covers all mineral commodities, the biggest contributors were coal, copper, gold and zinc.

Macdonald said the record figure was in part due to the State Government’s support for exploration investment through the Exploration NSW Initiative and the improved minerals market.

“The $30 million seven-year Exploration NSW Initiative has generated increased exploration and interest in NSW, setting the scene for an exploration and development boom,” the minister said.

“The minerals industry is a large contributor to the economies of our vibrant rural and regional communities.”