Quotes below are from:...

Quotes below are from: http://www.miningweekly.com/article/limited-prospects-for-price-recovery-in-australias-export-commodities-govt-economist-2016-01-04

•Limited prospects for price recovery in Australia’s export commodities

•Department of Industry, Innovation and Science chief economist Mark Cully said in the December issue of the Resources and Energy Quarterly that weak market conditions were forecast to persist over the short term and that the prospect of any significant recovery in prices for Australia’s resources and energy export commodities in 2016 was limited.

•The report has pointed out that exploration expenditure declined by 32% in the September quarter, compared with the previous corresponding quarter, reflecting cost-cutting initiatives implemented throughout the year in response to the lower commodity prices. Mineral exploration at new deposits fell by 11% during the September 2015 quarter, while exploration expenditure at existing deposits fell by 14%.

•Cully noted that given the generally lower price forecasts for commodities, a rebound in exploration expenditure was unlikely in the short term.

.........BLY, its not rocket science.