Nearly 2,200 active metals and minerals projects worth almost $176 billion were tracked across Oceania in Q3 2026, showing resilience despite global economic uncertainty.
Gold, copper and critical minerals led activity: high gold prices spurred Australian producer consolidation and plant refurbishments, while copper projects advanced through feasibility, approvals and development planning.
Australian policy support also lifted rare earths and other critical minerals through loans, grants and tax incentives aimed at pilot plants, downstream processing and stronger domestic supply chains.
Bulk commodities remained more cautious as iron ore expansions slowed, lithium stayed in recovery with focus on lower-cost existing assets, and nickel operators cut costs or idled facilities under weak prices.
coal's outlook stayed split, with metallurgical coal supported by steel demand in emerging markets while thermal coal faces a longer-term slowdown as renewable power expands.