What this class covers
ANZSIC class 1012 covers businesses primarily engaged in exploring for minerals throughout Australia, excluding crude petroleum or natural gas exploration. This classification applies to companies conducting geological investigations to locate and evaluate mineral deposits, which is a critical first stage in the mining lifecycle. Businesses in this class typically operate across remote and regional Australia where mineral prospects are located.
Examples of operations falling under this classification include:
- Companies conducting geophysical surveys using aerial or ground-based techniques to identify mineral anomalies
- Exploration firms undertaking drilling programs to test mineralised zones and determine resource potential
- Businesses collecting and analysing rock, soil, and sediment samples to assess mineral content
- Junior exploration companies securing exploration licenses and conducting field programs
- Specialist contractors providing mineral exploration services to mining companies
Primary activities in plain English
Businesses classified under ANZSIC 1012 primarily engage in:
- Conducting geological surveys and mapping to identify potential mineral deposits
- Performing drilling operations to extract core samples for analysis
- Collecting and testing surface samples including rocks, soils, and stream sediments
- Using geophysical methods such as magnetic, gravity, or electromagnetic surveys
- Evaluating the economic potential of discovered mineralisation
- Preparing exploration reports and resource estimates for regulatory submission
Exclusions and nearby codes
This class specifically excludes exploration for crude petroleum (oil) and natural gas, which are classified separately under Division B. Businesses engaged in mining support services other than exploration, such as mine site preparation or drilling for extraction purposes, fall under other ANZSIC classes within Subdivision 10.
Nearby classifications include ANZSIC 10121 for mineral exploration conducted on own account and ANZSIC 10122 for mineral exploration services provided to others. The broader Group 101 (Exploration) includes these subclasses while Division B covers the entire mining sector including actual extraction operations.
Practical guidance
When registering your mineral exploration business, you'll need to select ANZSIC 1012 for your ABN registration and Business Activity Statements. This classification affects your workers' compensation insurance category, which for exploration typically falls under mining-related risk classifications with specific premium calculations.
Mineral exploration companies should be aware of specific tax provisions including potential eligibility for the exploration development incentive and immediate deductibility of exploration expenditure. State-based reporting requirements apply for exploration activities, including mandatory reporting of exploration results to geological surveys. Businesses should maintain accurate records of exploration expenditures and activities for regulatory compliance and potential grant applications.
This classification is used by government agencies for statistical reporting, industry analysis, and policy development related to Australia's mineral exploration sector, which is particularly significant given Australia's status as a major mining nation.