Speculation and mineral discovery

Abstract

The minerals and energy fuel industries are vital to Australia's economy because of: their contribution to decentralisation; the earning of export income ($4,500 ´ 106 in 1976?7); the provision of direct jobs (120,000) and support of jobs in ancillary fields (200,000). The industry produces real wealth which together with agricultural and pastoral production is the basis of the economy. The mineral and fuel production for 1976?7 was in excess of $5,000 ´ 106 i.e. 7% of the G.D.P. The basis of this wealth is exploration and discovery ? a subject of importance for geophysicists and geologists especially now when hidden ore bodies need to be sought in a scientific way.