Australia is poised for a lift in gold and copper exports, with new forecasts outlined in the June 2025 Resources and Energy Quarterly (REQ).
The latest REQ – released by the Department of Industry, Science and Resources – forecasts that while overall export earnings will ease slightly from $385 billion in the 2024–25 financial year (FY25) to $369 billion in FY26 and $352 billion in FY27, export volumes will increase.
Gold is set to be Australia’s third largest resources and energy export earner beyond iron ore and liquefied natural gas (LNG), with export earnings set to reach $56 billion in FY26. Gold prices are forecasted to decline but still be relatively high in FY27, cutting earnings to $52 billion.
Copper is expected to see exports grow by more than 25 per cent to over $16.7 billion in FY26 and then surpass $18 billion in FY27.
Federal Resources and Northern Australia Minister Madeleine King said despite the lower revenue, the increased export volumes will continue to support the Australian economy and local jobs.
“The latest Resources and Energy Quarterly underlines how Australia remains a trusted and reliable supplier of resources and energy to the world at a time of ongoing global uncertainty,” King said.
“While global commodity prices are easing, the report suggests Australian resources companies will continue to remain competitive on the global stage.
“Higher prices for gold, and forecast higher copper and lithium exports, are partly offsetting the impact of lower prices for iron ore, coal and LNG.”
Lithium, another key growth commodity, is forecasted to bounce back from recent market softness, with earnings rising from $4.6 billion in FY25 to over $6.6 billion by FY27.
“The Australian Government continues to support our resources and energy sectors,” King said.
“We have invested $3.4 billion in the Resourcing Australia’s Prosperity initiative to provide the geoscience that is foundational to our resources sector, and we have legislated $7 billion worth of production tax credits to strengthen domestic critical minerals processing and help Australia and the world achieve net-zero by 2050.”
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