Mining.com reported that there has been a dramatic fall in Australia’s spending on mining exploration, led mainly by the iron ore and coal sectors.

As quoted in the market news,

In terms of states, Queensland led the decline with spending down 32%, or $31 million. Western Australia’s exploration spending dropped $30 million, or 12%, led by a significant decline in iron ore activities. And in coal-rich New South Wales, spending on exploration for the fossil fuel almost halved to $9.9 million during the March quarter.

Click here for the full Mining.com report