Australia’s resources and energy sector is showing renewed strength, with iron ore, gold and copper emerging as standout performers in the latest Resources and Energy Major Projects (REMP) report released by the Department of Industry, Science and Resources.
The annual report highlights a stabilising and increasingly confident investment environment, underpinned by strong commodity fundamentals and a growing pipeline of major projects.
In 2025, Australia hosted 432 major resources and energy projects, up from 407 in the previous year, signalling renewed momentum after several volatile post-COVID years.
While oil and gas continues to account for just over half of all major projects, it was iron ore, gold and copper that delivered the strongest gains over the past year, reinforcing their central role in Australia’s resources economy.
Iron ore recorded one of its strongest years of project advancement. Three iron ore developments moved into the committed stage in 2025, while two projects were completed, demonstrating continued confidence in long-life, large-scale operations.
Capital expenditure for iron ore projects at advanced stages surged from $8.1 billion in 2024 to $12 billion in 2025, reflecting both project progression and sustained demand for high-quality Australian ore.
Gold also delivered a standout performance, buoyed by persistently high prices that supported exploration, development and investment activity.
The number of gold projects increased from 38 to 45 year-on-year, with growth across publicly announced, feasibility and completed stages. While capital expenditure for advanced-stage gold projects eased slightly to $9.3 billion, the report noted this was largely due to projects reaching completion rather than any slowdown in development momentum.
Copper maintained a solid and steady trajectory, with total capital expenditure holding firm at $16.1 billion in 2025. Although investment in advanced feasibility and committed projects dipped marginally, this reflected the successful transition of one major project to completion early in the year.
Five new copper projects were added to the pipeline, combining both brownfield expansions and new developments worth a combined $0.7 billion, underscoring copper’s long-term importance to electrification and decarbonisation.
Australia’s critical minerals pipeline continues to build momentum, with 130 major projects recorded in 2025—up 11 year-on-year—highlighting strong early-stage development activity across the sector.
While the pipeline remains dominated by publicly announced projects, which account for around 70 per cent of the total, the report estimates $19 billion in proposed investment tied to later-stage developments. Among these, around 21 per cent of projects have reached advanced feasibility, a further 8 per cent have secured a final investment decision, and two projects were completed over the past 12 months, underscoring the growing depth and maturity of Australia’s critical minerals project pipeline.
Across the broader resources sector, the report pointed to encouraging signs of stabilisation. While the total value of committed projects slipped slightly from $65 billion to $62 billion, the number of committed projects rose from 62 to 65, suggesting improving confidence and project readiness.
“The value and quantity of committed projects is stabilising following several volatile years,” the report said, adding that a recovery in early-stage announcements is laying the groundwork for future growth in committed and completed projects.
Coal project activity remained broadly steady and largely focused on brownfield expansions, while uranium projects continued to progress slowly amid regulatory complexity. Meanwhile, Australia’s critical minerals pipeline continued to expand, with 130 projects now recorded, reinforcing the nation’s strategic positioning in future-facing commodities.
Overall, the strong performance of iron ore, gold and copper highlights the resilience of Australia’s core mining sectors, providing a solid foundation for investment, regional employment and export growth as the project pipeline continues to strengthen.
