Exploration activity is still low in Eastern Australia. A significant number of geologists, estimated to be around 40% of the workforce, are unemployed and have been so for over 2 years. Some get short-term contract work from time to time. Many have left the industry in search for other work. This is a great loss of expertise and knowledge.
The cause of the low employment is low metal prices, mainly of gold (for which a lot of exploration activity had been taking place); and lack of stockmarket interest in resources, making it difficult to raise new funds for existing public companies or new floats. Furthermore, native title issues have slowed the granting of new tenements and renewal of existing ones, halting budgetted work on these tenements. As a result company overheads are cut.
Exploration is increasing in the oil and gas sector. Also, exploration activity is healthy for mineral sands in the Murray Basin. Unfortunately, little need for geochemistry is perceived to be required for either of these exploration sectors.
There are some indications that investor interest has started to relook at the resource sector in Australia, which in turn will allow companies to raise new funds in the next 12-18 months that will kick-start exploration activity.
The student chapter at James Cook Univ will hopefully be started this year. There is some interest from the chemistry-orientated staff and students. David Cohen has started his group in NSW.
In Western Australia, there have been two recent events involving AEG. AEG was co-sponsor of a two day conference on the Yandal Belt, one of the lesser known Greensone belts in the WA Archaean. About 150 people registered for the conference which seems to have been a great success.
On August 21st Cliff Stanley gave a one day workshop on Pearce Element Ratio Analysis at the University of Western Australia. This was jointly organised by AEG and the UWA student Chapter of SEG. 40 people crammed into a room big enough for 30. Fees were kept to a minimum for both students and AEG members. There was no need to advertise the workshop outside the University Student Chapter and the Perth-based AEG membership. We could have filled the room twice over!