Australian gold miners are continuing to benefit from record high prices, while iron ore producers dominate exports with increased shipments to Asian markets and rising exploration expenditure.
Capital investment across Australia’s resource and energy sectors is climbing, even as exploration spending has softened, though it remains at robust levels.
According to the September 2025 edition of Resources and Energy Quarterly, published by the Department of Industry, Science and Resources, total resources and energy export earnings are forecast to reach $369 billion in 2025–26 — down from an estimated $385 billion in 2024–25.
This reduction is attributed to growing global trade barriers affecting economic growth.
Earnings are expected to decline further to $354 billion in 2026–27.
Although export volumes are rising, falling commodity prices are likely to offset gains in export earnings.
The gold sector has been a standout, with prices surpassing US$3,600 an ounce in September.
The Quarterly projects gold prices will remain strong for the rest of the year before trending lower in 2026 and 2027.
High prices and increased export volumes are forecast to push gold earnings to $60 billion in 2025–26 and $59 billion in 2026–27, up from $47 billion in 2024–25.
These gains are expected to partly offset the impact of weaker-than-expected LNG prices, while copper and critical minerals such as lithium maintain strong demand.
Iron ore continues to lead as Australia’s top resources export, with increased volumes projected over the next two years, though with price moderation.
Minister for Resources and Northern Australia, Madeleine King, highlighted the resilience and significance of the sector amid global economic challenges.
As she stated: “The discovery of gold helped build this nation and gold mining is still creating wealth and jobs for our economy today.
“Australia’s resources and energy sector remains strong, with gold and critical minerals playing an increasingly important role in our export mix.”
