Geoscience Australia says budget cuts and increased costs have left it seeking $5 million in savings.

The agency in charge of the nation's unexplored mineral deposits and groundwater says its budget allocation has fallen short of covering its expanding workload.

It also falls under the LNP Government’s efficiency dividend - a 2 per cent annual budget cut for Commonwealth agencies.

A four-year $100 million federal government plan to grow investment in Australian minerals exploration will expire soon, creating a potential funding gap of about $9 million in employee expenses.

TO counter this, Geoscience Australia is looking for $4.9 million in savings.

Geoscience Australia chief executive James Johnson says the agency is spread too thin.

“We are mindful of this and now seek to bring greater focus to GA's activities,” he said.

“Rather than adopting a percentage reduction across all programs, these savings will be achieved through more targeted decisions that reduce or cease particular activities.”

The 600-strong staff at the agency says some employees will move into new roles, and those it cannot redeploy will receive a voluntary redundancy offer.

Geoscience Australia will also stop activities that contribute less to its goals, leading to some speculation that more staff will leave.