Why Do We Explore for Minerals in Australia?

We have been exploring for minerals in Australia for over 100 years and our methods are constantly improving - but why do we pros- pect? Is the effort justified? Obviously the main motive is economic gain. It is now and always has been but conditions are changing rapidly. Once it was the prospector who could cash the nugget. Then it was the syndicate, the small company, an amalgamation of small companies, the large company, the corporation; the multinational corporation - where do we go from there? Early there was personal satisfaction and excitement in out-door activity which gave scope for individual energy, hope and in some cases reward. There still remains the satisfaction, either individual or corporate that a mineral discovery creates new wealth and makes a contribution to the nation's well being. Parallel with developments has always been the growth of restraints on exploration, frequently out of phase with the current mineral developments - miners' rights, licences, titles, royalties, mining laws and regulations, taxation etc. As the operations have become more complex so the restraints have become more confining until it is now very necessary to question whether the chances of economic gain justify the risk and responsibility of mounting costly mineral exploration leading-to extensive capital development.