The data shows $64.2 million was spent on exploration in the March quarter, up $16.7m on the December 2022 quarter. This surpasses the $61 million spent on exploration in South Australia’s previous record-earning quarter to December 2012.

It comes on the back of the SA Government signing off on environmental approvals in April that allow BHP to expand its exploration drilling at Oak Dam, 65km south east of its Olympic Dam mine.

BHP chief executive officer Mike Henry flagged in the company’s last quarterly report that it would increase its six drill rigs in the region to 10 by October.

And drilling activity is expected to continue expanding at Oak Dam after the government told BHP it could operate up to 14 drill rigs in the area – more than double the current approval – and the company can also build an accommodation camp on site for up to 150 people.

BHP is also planning to ramp up its copper exploration after adding OZ Minerals and its highly prized SA mining assets Prominent Hill and Carrapateena in the state’s Far North to its portfolio earlier this year.

“South Australia’s exploration and mining sector continues to demonstrate its importance to the South Australian economy,” Mining Minister Tom Koutsantonis said in response to the figures.

The minister was also recently spruiking the state’s credentials at an oil and gas conference in Adelaide targeted by climate change protestors.

Petroleum exploration in SA for the March quarter reached $20.7 million, with national expenditure reaching $244 million, up 16.3 per cent from the December 2022 quarter.

Other factors the State Government attributed to the boost in exploration figures were recent Rare Earth Element discoveries in the South-East, Eyre Peninsula and Northern Gawler Craton, saying it was driving renewed activity and investment across South Australia.

Nationally, the exploration spend increased 0.7 per cent in the quarter and was 4 per cent higher than 12 months ago.