Resource Recap: 2025 Data on Australia's Key Mining and Energy Projects

2025 by the numbers for Australian mining and energy

The report outlines data recorded as of October 31, 2025, noting that 432 major resource and energy projects were under development at that time, up from 407 projects a year ago.

As mentioned, 21 projects were completed in 2025, with 14 further projects receiving final investment decisions and proceeding to the committed category during the period.

“This rate of progression is broadly consistent with recent years. It suggests project owners are successfully managing an uncertain global environment, a rapid transition towards emerging commodities, including rare earths, that support the global low-carbon energy transition and other forms of technological change,” the report states.

In terms of value, there were about AU$1.9 billion worth of committed infrastructure projects in 2025. These cover new and expanded gas pipelines, resource processing, port and rail upgrades and decarbonisation projects.

However, the value of committed projects declined in 2025, falling from AU$65 billion the previous year to AU$62 billion. It's worth noting that oil and gas projects continue to make up the largest share of committed projects by value.

At the moment, 280 projects have been publicly announced. Sixty-three of these are committed or have received a final investment decision, while 68 are at the advanced feasibility stage.

Out of the 280 publicly announced projects, 37 are iron ore, 35 are coal, 32 are infrastructure, 29 are oil and gas, 18 are gold, 17 are copper, 13 are nickel/cobalt, nine are lithium, seven are uranium, six are lead/zinc/silver and five are aluminium/alumina/bauxite. The remaining 72 fall under the "other" commodities category.

Gold, copper and iron ore take the lead

In general, gold, copper and iron ore remain in the spotlight in Australia.

The report notes that there were 45 gold projects in 2025, up from the 2024 number of 38.

The yellow metal is also drawing the strongest interest in terms of mineral exploration, attracting the most exploration expenditures over the past decade. Data suggests that gold exploration expenditures increased to AU$1.3 billion in the 2024/2025 period, second to the 2021/2022 peak of AU$1.6 billion.

Gold exploration currently contributes 34 percent to Australia’s total exploration expenditures.

As for copper, 2025 was a steady year. Total capital expenditure reached AU$16.1 billion, on par with 2024, while a total of five new expansions and developments reached a value of AU$0.7 billion.

The number of copper projects also rose in 2025, coming in at 32 compared to 29 in 2024.

Eighteen of the 32 projects are at the publicly announced stage, including the Olympic Dam smelter expansion, which is expected to more than double the site's copper production capacity.

Iron ore saw significant activity, with two projects completed in 2025 and three moving to the committed stage.

“Capital expenditure for advanced projects (those that have reached advanced feasibility or the committed stages) increased from AU$8.1 billion in 2024 to AU$12 billion in 2025,” the report outlines, adding that iron ore investment also increased in 2025 due to the impact of certain projects.

Rio Tinto (ASX:RIO,NYSE:RIO,LSE:RIO) made progress on its iron ore portfolio in 2025, announcing a AU$2.8 billion investment in the Brockman Syncline 1 mine project in March, with first production expected in 2027.

Together with Hancock Prospecting, Rio Tinto also announced in June that it has received all necessary approvals for its AU$2.5 billion Hope Downs 2 project, also expecting production in 2027.

The same month, Rio Tinto's AU$2.9 billion Western Range project, a collaboration with China Baowu Group, started commercial production. In October, Rio Tinto announced a AU$1.1 billion investment to expand the West Angelas mine.

On the back of these moves from the major miner, the total estimated value of iron ore projects in the committed stage increased from AU$6.3 billion in 2024 to AU$9.6 billion in 2025.

Forty-two iron ore projects are yet to reach the committed stage, with five reaching advanced feasibility.

Mentioned in the report are: the West Angelas sustaining project by the Robe River joint venture (formed by Rio Tinto, Mitsui Iron Ore and Nippon Steel (TSE:5401,OTC Pink:NISTF)); Mindy South, proposed by Fortescue (ASX:FMG,OTCQX:FSUMF) subsidiary Chichester Metals; Ministers North, primarily owned by BHP, together with Mitsui & Co. (TSE:8031,OTC Pink:MITSF) and Itochu (TSE:8001,OTC Pink:ITOCF); Lamb Creek by Mineral Resources (ASX:MIN,OTC Pink:MALRF); and Mulga Downs by Hancock Prospecting.

The Collie green steel mill project by Green Steel reached advanced feasibility in 2025.

Critical minerals projects make progress

A total of 130 projects were on Australia's critical minerals major projects list in 2025, 11 more than 2024.

Dominating the list are early stage projects, accounting for 70 percent of the total count.

Location-wise, 65 out of 130 projects are in Western Australia. Queensland has 22, while 11 are in the Northern Territory; South Australia, New South Wales and Victoria each hold 10, and Tasmania has two.

The report mentions several critical minerals projects that made “notable progress."

Those include Northern Minerals' (AU:NTU,OTC Pink:NOURF) Browns Range rare earths project, which delivered a definitive feasibility study in September 2025. For its part, Larvotto Resources (ASX:LRV,OTC Pink:LRVTF) made a final investment decision on its Hillgrove gold-antimony project in July, while both the Pilgangoora P1000 expansion and Covalent Lithiun's Kwinana lithium refinery were completed within the year.

Arafura Rare Earths' (ASX:ARU,OTC Pink:ARAFF) AU$1.8 billion Nolans project is expected to reach a final investment decision in early 2026. Northern Minerals' Browns Range, as well as the Donald rare earths project, held by Astron (ASX:ATR,OTC Pink:ATRNF) and Energy Fuels (TSX:EFR,NYSEAMERICAN:UUUU), are also expected to do so.

Lynas Rare Earths' (ASX:LYC,OTC Pink:LYSDY) Mount Weld expansion works are close to completion, and Iluka Resources' (ASX:ILU,OTC Pink:ILKAF) AU$1.8 billion Eneabba rare earths refinery is on track for 2027 commissioning.

Energy and battery metals projects stay steady

Progress in energy investment “has held up,” the report states.

Australia's coal projects were practically unchanged in 2025, with developments mostly limited to brownfield projects. A total of 40 were recorded in 2025, slightly down from 47 in 2024.

Three projects were completed, with all of which were expansions to existing mines. For oil and gas, 50 projects were under development in 2025. Thirteen of these (worth around AU$33 billion) are at the committed stage.

“These projects include large investments in Western Australia and the Northern Territory, which should help to maintain Australia’s LNG exports for the next 10 years," the report explains.

The battery active materials pipeline also stayed unchanged last year, with the report pointing to projects such as International Graphite's (ASX:IG6,OTC Pink:IGRPF) 4,000 tonne per annum graphite micronising facility at Collie, Western Australia, and Renascor Resources' (ASX:RNU,OTC Pink:RSNUF) AU$772 million Siviour purified spherical graphite project, which is targeting 100,000 tonnes a year across both Stage 1 and Stage 2.

Will 2026 bring an Australian resource boom?

Most projects currently committed are expected to be completed by late 2027.

Still, the progress demonstrated by key projects in Australia holds potential for a mining boom this year.

On top of this, research company BMI said in a report that commodities price hikes are anticipated for 2026 on the back of easing trade tensions, posing a positive outlook for the year ahead.

“Governments will push a twin-track strategy: scaling domestic capacity while locking in overseas supply via investment and strategic partnerships,” the research firm explains.

The BMI report also underlines continuing efforts to reduce dependence on Chinese resources, with strategies such as targeted critical minerals capacity expansion and greener manufacturing practices.

M&A activity is also expected to be seen at a rising slope, building on progress in 2025. Assets and resources around critical minerals, including copper, lithium and rare earths, are expected to be consolidated across companies.