A gold-standard crushing and screening performance at Agnew

A New crushing and screening plant at Agnew Gold is delivering financial rewards to Gold Fields. Image: Sandvik

A new Sandvik crushing and screening plant at Gold Fields’ Agnew gold mine in WA is delivering greater efficiency, throughput and operational safety.

Gold Fields Limited is one of the world’s largest gold mining companies with nine operating mines, located in Australia, South Africa, Ghana, Peru and Chile.

The Agnew gold mine is one of four Australian gold mines operated by Gold Fields. The site is situated approximately 375km north of Kalgoorlie and has a long history of gold production dating back to the late 1970s.

The mine is best known for its underground operations, primarily targeting the Agnew and Lawler gold deposits. Ore is extracted using a combination of underground and surface mining and is then processed on-site.

Around 2018, with the mine expanding into a third underground source, there was a need to increase plant throughput. The 21-year-old tertiary crushing circuit, which was suffering from poor reliability, was unable to meet the demand.

Gold Fields metallurgy manager Reg Radford is the company’s technical expert in the field of processing metallurgy. He works with process managers across all Gold Fields sites in Australia to assist in optimising operations.

Gold Fields metallurgy manager Reg Radford.
Image: Sandvik

Radford could see that the crushing and screening circuit was not in keeping with the company’s broader standards.

“It was working to its limits, and if you compared it to other Gold Fields sites, it was not to the standard that would be accepted elsewhere,” he said. “It didn’t meet our criterion for a well-organised, safe, professional gold processing operation.

“The equipment was old, and there was little or no spare parts availability. From a metallurgical perspective, it was being pushed to its limits to deliver the tonnage required. At best it was giving us an 8–10mm output, which was putting pressure on the downstream grinding circuit.”

The age and complexity of the existing plant also meant that access for operation and maintenance was difficult, presenting potential safety concerns.

Seeking a complete solution

The existing crushers were reaching end-of-life, and rather than just replacing them, it was decided to build an entirely new crushing and screening circuit.

To do this, and address various other concerns regarding the existing plant, a comprehensive upgrade project, known as the Agnew Stage 1 upgrade, was conceived.

The initiative examined bespoke and modular designs that could replace the existing plant. The project aimed to improve site water drainage and dust management (by installing a fine ore bin) while minimising disruptions during construction and commissioning.

Gold Fields manager – processing Tristan Freemantle was appointed as project director for the upgrade at Agnew. A veteran of the gold and copper industry, Freemantle originally worked for Barrick Gold and then transferred to Gold Fields around 12 years ago.

Gold Fields manager – processing Tristan Freemantle.
Image: Sandvik

Since then, he has worked across several of Gold Fields’ Australian sites and is currently based at Gruyere, a joint venture project with Gold Road Resources in the Yilgarn area of WA.

“Agnew’s mine life had been extended for a further eight years, so upgrading the crushing and screening circuit was important to increase our processing capabilities: we needed to be in a position to process more ore from the new third mine coming online,” Freemantle said.

Gold Fields has enjoyed a longstanding relationship with Sandvik, with the company having Sandvik crushers installed at both their St Ives and Granny Smith operations. After considering a bespoke solution, the Gold Fields team chose to go with a Sandvik modular plant.

“We needed a circuit that was simple, low maintenance and reliable, but also wanted the best crushers and screens that we could get,” Freemantle said.

“Sandvik showed a willingness to work with us within our parameters. Initially, it was just the crushers and screens, but in the end, they presented a complete plant design, which was modular and comparable with the bespoke designs we were considering.

“Sandvik was also able to accommodate our desire to manage our own electrical and process control design.”

A key to the successful implementation was Sandvik’s expertise in crushing and modular plant design combined with the screening know-how of Schenck Process.

The scope of supply included a Sandvik reciprocating plate feeder, grizzly screen, jaw crusher, and two cone crushers, as well as a Schenck Process double-deck banana screen fitted with Screenex screening media. Sandvik also provided bins, chute work, associated wear protection, and conveyors.

Sandvik 800i series cone crushers perform secondary and tertiary crushing functions at Agnew.
Image: Sandvik

The innovative plant design eliminated the need for two screening stations and associated conveyors when compared with other proposed designs.

“Having a single vendor was an advantage,” Radford said. “Sandvik’s initial designs and 3D models were quite detailed and comprehensive, which was encouraging. It gave us confidence in the circuit because we knew exactly how the proposed layout would interact with the existing plant.”

Changeover challenges

A significant challenge for the project team was that Gold Fields needed the new plant to be installed in parallel with the old one so that, ideally, there would be zero downtime.

“Agnew can’t afford to be down for two or three weeks,” Radford said. “The mill is pushed to its limits, so it has little ability to catch up.

“Solving this problem – where we could build the new circuit and how to tie it in – was a good part of the success story. Commissioning on-time and within budget, with limited downtime, was a very important part of the brief.”

To accommodate this requirement, the team decided to move the run-of-mine (ROM) pad and build the new circuit on the site of the old ROM pad. While this achieved the brief of zero downtime, it introduced a new challenge.

The geology of the ROM pad was untested, and some contractors argued that a substantial concrete foundation would be required to support the crushing and screening plant, greatly increasing both the build time and cost.

In the end, working with Gold Fields geotech consultants, Sandvik’s design team resolved this problem by delivering a support structure for the new circuit that was strong and rigid enough to reduce the concrete foundations required.

This feature appeared in the February 2025 issue of Australian Mining.

Metso invests in China to strengthen screen offering for mining & aggregate industries

by Guy Woodford

Metso is investing in the expansion of its screening solutions in China. Image/Metso

Share on FacebookShare on Twitter

Metso is expanding its screening solutions in China. The initial investment includes an agreement to acquire Selm (Beijing) Technology Company, a privately owned company’s screening business, operations, and key assets.

By combining the new offering with Metso’s expertise in screening equipment, media, repairs, and services, Metso can strengthen its services to better support mining and aggregates customers in China.

“The acquisition is a significant step in advancing our regional strategy in screening of being closer to our customers, fostering a market-focused approach. We are excited to enhance our role in China as a leading provider of screening solutions for large projects like super quarries. We warmly welcome new colleagues to contribute to our growth targets and improved customer service,” says Jouni Mähönen, Vice President, Screening, Metso.

“Selm is a respected company with its products and services well recognized by the customers in both mining and aggregates industries. The acquisition will further enrich Metso’s product portfolio and strengthen our competitiveness and market position. This move will enable us to provide comprehensive screening solutions in China, where Metso has a strong customer base and service capability in both the mining and aggregates industries,” says Xiaofeng Liang, President of Great China market area, Metso.

The acquisition is subject to conditions precedent and expected to close during the second quarter of 2025. The parties have agreed not to disclose the transaction value, which has no material impact on Metso’s financials.

Selm (Beijing) Technology Company is a Chinese manufacturer of mining and aggregate screens and technologies, including micro-sizing screening solutions. The company has around 180 employees and its operations are in Shenyang, Northeast China.

Huifeng Tang, founder of Selm says: “We have been developing our screening business over the past years, building expertise and strong reputation among customers. Moving forward, the screen offering will bring benefits for customers as part of Metso and our employees will get a valued new employer.”

Metso’s screening solutions for aggregates and mining customers consists of banana screens, horizontal screens, inclined screens, mobile screens, portable screens, ultrafine screens as well as screening media, and capital screen related parts, repairs and services.

Striker Crushing and Screening: Big enough to deliver but small enough

to care

by Adam Daunt

Striker Crushing and Screening is a family-owned-and-operated business. Image: Striker Crushing and Screening

Share on FacebookShare on Twitter

Craig Pedley, founder and CEO of Striker Crushing and Screening, shares how keeping things simple, rugged and operator-focused has set the Australian business apart from the competition.

When Craig Pedley started Striker Crushing and Screening in 1998, he did not have a corporate roadmap or a boardroom of advisors. What he did have was a passion for designing machines that made life easier for the operator.

“From day one, our philosophy has been simple. Build machines that are easy to operate, easy to maintain, and tough enough to handle remote Australia,” Craig said. “We’ve always designed equipment with the operator in mind and built it to last in remote Australia.”

Keeping it Real: Designed for
the Operator

Striker’s no-nonsense approach has earned it a loyal customer base both in Australia and worldwide.

Craig said being focused on designing machines that are tough, practical, and focused on the operator helped set Striker apart. These core values have shaped the business for over 25 years.

Striker’s equipment is built for ease of operation, ensuring operators can hit the ground running, and ease of maintenance, with simplicity that means less downtime. The commonality of parts keeps spare parts inventory and costs low for the customer.

A focus from day one was to design equipment with interchangeable components. This was important to the Striker team to help operators reduce spare parts inventory, lower costs, and streamline maintenance. Whether it’s jaw crushers, impact crushers, cone crushers, or screens, having parts that work seamlessly across the range means fewer headaches on-site and faster turnaround when maintenance is needed. This thoughtful approach simplifies operations and ensures greater up-time, keeping projects running efficiently and cost-effectively. It’s a practical solution built for real-world operators needing reliability without unnecessary complexity.

“On site, simplicity and reliability are hands down the most important things to our clients,” Craig said.

The Next Generation

Today, Craig’s daughter, Jordan Pedley, is leading the charge as the next generation of Striker. Energetic, driven, and proudly carrying on the family legacy, Jordan combines a fresh vision with the same hands-on, customer-first mindset that built the business.

“I grew up watching Dad build Striker from the ground up,” Jordan said. “One thing that’s always stuck with me is that listening to our customers drives a lot of what we do. While our innovation and design teams are amazing, the customer is the real expert.”

Jordan credits Striker’s agility and personal approach as key to its success.

“We’re big enough to deliver but small enough to care. Whether it’s our service team helping operators or the production team walking through the machine build in the factory with the customers, we’re responsive and hands-on. That’s something our customers value,” she said.

Striker builds its equipment with a focus on quality and durability. Image: Striker Crushing and Screening

Alongside Jordan, Nicole Talbot, Striker’s chief operating officer, plays an integral role in driving the business forward. Over her 16 years with Striker, Nicole has grown into her role with the support of her colleagues and mentors.

“When I first started with Striker, I knew nothing about this type of equipment,” Nicole said.

“I spent a lot of time learning from some really influential people within this business. People like Ken Baudinette, Adam Quad, and Mark Mackey who are not only a wealth of knowledge on our equipment but on machinery across the board.”

A Greener Future

Striker is paving the way for a greener future with its E-Trac range, a line of electric mobile crushing and screening equipment designed to help customers meet sustainability goals without sacrificing performance.

“At Striker, innovation is at the heart of what we do,” Jordan said. “E-Trac was designed to reduce diesel consumption, lower emissions, and improve safety. All while maintaining the power and reliability Striker machines are known for. On top of that, our remote monitoring systems provide customers with real-time data on machine performance, empowering them to make more informed strategic decisions efficiently.”

Growing Capabilities, Stronger Support

Striker has invested heavily in its manufacturing capabilities, leading to a 150 per cent increase in capacity in Australia. This expansion ensures faster delivery, reduced lead times, and stronger customer support.

“Our goal for 2025 is to roll out more Australian-made tracked machines than we have in years,” Jordan said. “We’re also expanding spare parts manufacturing right here at home. That means less downtime and quicker solutions for our Aussie customers when they need it most.”

Built on Trust

At its heart, Striker is a business built on trust. Trust in the machines, trust in relationships, and trust in the team that makes it all happen.

“You can’t build a company on your own,” Craig said.

“It’s about the people, our team, our customers, and our suppliers. We’ve worked with some incredible people over the years, and every one of them has helped shape Striker into what it is today.”

For Jordan, stepping into the role comes with big shoes to fill, those of her father, Craig Pedley, whose passion and vision built Striker from the ground up. Her focus now is on balancing innovation and growth while staying true to the values that have defined Striker from the start.

“We’re here to make life easier for operators and businesses,” she said. “That’s what we’ve always done, and that’s what we’ll keep doing. There’s nothing better than hearing from a customer that one of our machines made their job easier, faster, or more cost-effective. That’s what keeps us going.”

As the founder of the business, Craig is looking forward to watching the business continue to grow.

“We’ve got a lot of knowledge that we can draw on in terms of how to do it right. It is something that I am pretty excited about, that there are people within our organisation who want to take this to the next step and put their own stamp on it.

“I look forward to watching it progress as they take the business to the next step.”

For more information, visit strikercrushing.com.

AIMEX to move to Adelaide in 2025

Image: Prime Creative Media

Following a strong bid from the South Australian Government and key mining stakeholders, the Asia-Pacific International Mining Exhibition (AIMEX) will be moving to Adelaide in 2025.

The agreement will see AIMEX call Adelaide home for the next 10 years, strengthening South Australia as Asia-Pacific’s fastest growing modern mining market.

AIMEX was acquired by Prime Creative Media in May 2024. As Australia’s longest running mining show, AIMEX has a history of supporting the latest trends and developments in the industry.

This move to South Australia represents the next phase in the regional resources sector, with the state leading the charge in responsible exploration to unlock minerals. It has also been driving the investigation of solutions for decarbonised steelmaking, efforts that are critical to the future of infrastructure development.

“We’re working to keep AIMEX’s reputation as a key event for the Asia-Pacific region,” Prime Creative Media general manager of events Siobhan Rocks said.

“We knew we needed to do something big to attract key players in the industry. When the mining industry asked us to come to Adelaide, we thought this change of location was the best way to serve this important sector.”

South Australian Premier Peter Malinauskas said with South Australia’s natural advantages and ingenuity, the state has the potential to lead the world in decarbonisation of critical minerals, including green steel and copper.

“We have a compelling story to tell, and AIMEX being hosted in Adelaide for the next decade provides a strong platform to do just that,” Malinauskas said.

“This exhibition will attract thousands of mining delegates from around Australia and the world to Adelaide every two years, delivering a significant boost to South Australia’s visitor economy.”

Business Events Adelaide chief executive officer (CEO) Damien Kitto said AIMEX is a significant win for Adelaide, one which will generate more than $250 million for the South Australian economy over the next 10 years.

“We are proud to be entrusted with this long running business event, and it demonstrates that Adelaide is increasingly being viewed as a modern powerhouse in sustainable energy generation,” Kitto said.

“Business Events Adelaide shares Prime Creative Media’s ambition of making AIMEX the world’s largest mining event.”

The South Australian mining industry is rapidly making a name for itself as a top-tier jurisdiction for the critical minerals essential to the world’s energy transition, including copper, uranium, zircon and zinc.

With its extensive renewable energy network and significant investment in hydrogen projects to power green steel and future energy solutions, South Australia’s pioneering objectives distinguishes itself from other markets.

Prime Creative Media CEO John Murphy said that with these significant developments and growth of the South Australia resources industry, and the ramp-up in decarbonisation and sustainable supply chains, relocating the event to South Australia was an obvious strategic choice.

“This is a critical time for the industry and South Australia is emerging as a frontrunner in responsible mining and production of the minerals, metals and fuels of the future,” Murphy said. “It aligns with our purpose to deliver a forward-focused mining event for the next generation of Australian mining.

“There’s no denying that there’s a link between the mining industry and renewable energy. South Australia is a world leader in renewables and the global transformation economy and we’re proud to partner with the state to showcase the world-class change the resources sector is driving.”

AIMEX offers delegates an opportunity to gain forward insights from internationally-renowned industry experts. The show offers unparalleled opportunities to connect with Australia’s largest community of mining suppliers and professionals in an environment that stimulates innovation and collaboration.

To get involved in the 2025 Asia-Pacific International Mining Exhibition, visit the AIMEX website or submit your enquiry below.

MinRes temporarily suspends Bald Hill

Olivia Thomson

The Bald Hill lithium mine in WA. Image: Mineral Resources

Mineral Resources (MinRes) will transition its Bald Hill lithium mine in Western Australia into care and maintenance amid cyclically low lithium prices.

The major miner acquired Bald Hill for $260 million in late 2023 to ensure the operation’s profits stay in Australia.

MinRes will now transition the operation into care and maintenance to preserve the mine’s cash and the spodumene orebody’s value for when global lithium market conditions improve.

During care and maintenance, MinRes will continue to optimise mine plans, scale and operating structure ahead of any future restart.

The company will cease Bald Hill’s mining and mobile maintenance operations on November 13 and will temporarily cease operations at the spodumene concentrate plant and accommodation village by early December.

The final spodumene concentrate shipment from the mine is also expected to be sold in December.

Approximately 300 employees will be impacted by the transition, with all Bald Hill employees to be prioritised for redeployment across MinRes’ other WA operations. Where redeployment opportunities cannot be found, a redundancy process will be followed.

A team of about 10 MinRes employees will remain on site at Bald Hill to manage the scaling down of lithium production, as well as care and maintenance activities.

“Bald Hill is a significant value opportunity for MinRes once conditions in the lithium market improve,” MinRes managing director Chris Ellison said.

“Placing Bald Hill on care and maintenance is a prudent decision but one not made lightly. The decision aligns with the work we have done across the company in recent months to reduce costs.”

Despite the temporary shutdown, MinRes has increased Bald Hill’s mineral resource by 168 per cent. The mineral resource now stands at 58.1 million tonnes at 0.94 per cent lithium oxide.

“The significant upgrade to the mineral resources statement is evidence that Bald Hill is a high-quality asset with a long-term future,” Ellison said.

“We will continue to monitor lithium prices and site operating costs with a view to recommencing operations once conditions improve.”

Subscribe to Australian Mining and receive the latest news on product announcements, industry developments, commodities and more.

Arcadium to put Mt Cattlin on hold

Kelsie Tibben

Image: Michael Evans/stock.adobe.com

Arcadium Lithium will transition its Mt Cattlin mine in Western Australia into care and maintenance following the recent softening of lithium prices.

Stage 4A waste stripping and any expansionary investment will be suspended after the mine completes Stage 3 mining and ore processing by mid-2025.

Though considered a relatively small mine compared to its neighbours, Arcadium president and chief executive officer Paul Graves said the mine will continue to play a big part in the company’s future.

“We remain committed to developing our global portfolio of hard rock assets and are confident that they will continue to be a significant part of Arcadium Lithium’s growth story,” Graves said.

“Unfortunately, production at Mt Cattlin beyond the current stage of the open pit cannot be justified in the current price environment for spodumene.

“We will maintain open and transparent dialogue with all of our stakeholders while supporting our employees and communities in Western Australia during this transition period.”

Arcadium was firm Mt Catltin will not be closed, with its care and maintenance program intended to keep the mine and processing facilities in a position to potentially resume operations when market conditions become more favourable.

The company said it will continue to explore the viability of underground mining at the Mt Cattlin site, which could potentially extend the remaining mine life.

As a result of the decision to put Mt Cattlin on hold, Arcadium expects to increase its net expected cash flow in 2024 and 2025 cumulatively by approximately $US75 ($111.2 million) to $US100 million ($148.3 million).

Subscribe to Australian Mining and receive the latest news on product announcements, industry developments, commodities and more.

Is South Australia the world’s next copper leader?

Kelsie Tibben

The Olympic Dam operation. Image: BHP

The South Australian Chamber of Mines and Energy (SACOME) has weighed in on BHP’s plan to more than double its copper production in the state by 2030.

BHP plans to upgrade its Olympic Dam copper smelter to a ‘stage-two smelter’, as well as expand its refining capacity.

As one of only two copper smelters in Australia, the expansion will be a potential boon for the state.

“South Australia was known as ‘The Copper Kingdom’ in the 1840s when copper was first discovered,” SACOME chief executive officer Rebecca Knol said.

“Today’s copper renaissance is crucial to our everyday lives and to our energy transition.

“From EVs (electric vehicles) and charging stations to mobile devices and life-saving healthcare, copper is fuelling our lives and our net-zero ambitions.”

In SA, BHP currently operates the Carrapateena, Olympic Dam, Prominent Hill, and Oak Dam copper mines.

The Big Australian has been outspoken in its desire to become a global copper powerhouse, and has placed its focus directly on SA.

SACOME said it is essential for state and Federal governments to ensure BHP’s strategy for the smelter and refinery expansion becomes a reality.

There are now several steps that need to be undertaken to advance the project, including an Environment Protection and Biodiversity Conservation determination, development of Terms of Reference, and the preparation of an environmental impact assessment.

“(This) is a significant milestone in BHP’s proposed smelter and refinery expansion, which aims to position SA as a leading global copper jurisdiction,” Knol said.

“The State Prosperity Project has provided a framework for strategic development that enables value-add to South Australia’s already impressive resource endowment.”

The State Prosperity Project is a co-ordinated initiative by the SA Government to unlock the full potential of renewable energy, critical minerals and green manufacturing to herald a new era of prosperity for South Australia.

The project’s key focus is the Upper Spencer Gulf, with the SA Government investing jobs and training in the region.

Subscribe to Australian Mining and receive the latest news on product announcements, industry developments, commodities and more.

Share this article

Weir makes a mark overseas

Alexandra Eastwood

Weir’s redefined flowsheet solution includes Enduron HPGR technology. Image: Weir

The Weir Group has been awarded a £53 million ($102 million) contract to provide energy-efficient and sustainable solutions to the Reko Diq copper-gold project in Pakistan.

The project is 50 per cent owned by Barrick Gold, and is located in the Chagai district of Balochistan. Barrick is targeting first product at the site in 2028, with an estimated mine life of over 40 years.

The contract will see Weir provide fine grinding, separation and tailings solutions, featuring equipment such as Weir’s Enduron high-pressure grinding rolls (HPGR), Enduron Elite wet and dry vibrating screens, Warman slurry pumps, and Cavex hydrocyclones.

“We are delighted to have secured this significant contract which represents further industry acceptance of Weir’s differentiated sustainable and cost-effective redefined flowsheet solution, with our market leading HPGR technology particularly suited for the water-scarce climate and geology of the Reko Diq copper-gold project,” Weir chief executive officer (CEO) Jon Stanton said.

“Our engineers have designed an innovative solution that comprehensively addresses the particular challenges of this project and is a great example of working in close partnership with an ambitious customer who shares in our purpose to sustainably and efficiently deliver the natural resources essential to create a better future for our world.”

After equipment commissioning is completed, Weir will provide aftermarket support via an on-site service centre staffed with Weir technical personnel.

Barrick president and CEO said the company is proud to be partnering with Weir.

“The Reko Diq project will grow Barrick’s strategically significant copper and gold portfolios, benefiting all its Pakistan and Balochistan stakeholders,” he said.

Subscribe to Australian Mining and receive the latest news on product announcements, industry developments, commodities and more.

Weir, De Grey partner up

Alexandra Eastwood

Weir’s new Port Hedland facility services Enduron® HPGRs along with critical parts storage for faster service times for customers. Image: Weir

De Grey Mining has awarded Weir a contract to supply an Enduron high-pressure grinding roll (HPGR) for its Hemi gold project in the Pilbara.

The contract comes as Weir officially opens its Port Hedland Service Centre to further support its customers in the Pilbara.

De Grey Mining project director Peter Holmes said the company is looking forward to the partnership.

“De Grey Mining is pleased to partner with Weir on one of its key long lead items for its Hemi gold project and appreciates Weir having a local service facility to provide the required support to our site and the region,” he said.

Weir Enduron HPGRs global product manager Bjorn Dierx echoed similar sentiments.

“Our partnership with De Grey Mining further expands our footprint in sustainable comminution,” Dierx said.

“Our proven track record of developing highly engineered solutions for the industry, together with our capability to partner with our customers to bring projects to life, ensures that De Grey Mining will be in good hands to achieve its productivity, sustainability and project execution targets.

“Importantly, Enduron HPGRs also provide significant improvements versus traditional tumbling mill technology with energy savings of up to 40 per cent and in turn, a lower carbon footprint. This will be the fifth, similar-sized Enduron HPGR in the Pilbara region alone, which is a testament to its credibility in high capacity, hard-rock grinding.”

Weir regional managing director Kristen Walsh said the contract elevates Weir’s sustainability goals.

“This win further underscores Weir’s commitment to making mining more sustainable and demonstrates the substantial opportunity that can be made to CO2 emissions reduction when choosing an energy-efficient technology in a large greenfield project,” she said.

Subscribe to Australian Mining and receive the latest news on product announcements, industry developments, commodities and more.

The global opportunity for mining services

Contributor

Image: Kings Access/stock.adobe.com

Australian mining equipment, technology and services (METS) sectors generated $114 billion in revenue in 2020, according to the latest Austmine national survey, of which two-thirds of companies exported $17 billion of goods and services (five per cent of all exports in 2020).

Strong resources and energy exports and a steady increase in mining investment suggest METS sectors have grown considerably in subsequent years.

And expenditure is expected to continue. Australia’s mining industry invested $11.5 billion in the March quarter of 2024, up six per cent from a year earlier and nearly 60 per cent higher than the March quarter of 2019. Current estimates suggest the mining industry invested $53 billion during the 2023–24 financial year.

Further, rising exploration expenditure indicates an increase in broader capital expenditure from resources and energy firms in the coming years. Spending on exploration and other mining support services averaged $486 million per quarter in the year to March 2024, 25 per cent more than the average quarterly spend in the prior five years.

In particular, growth in exploration expenditure since 2020 suggests interest is rising in precious and industrial metals (such as copper and iron ore) and critical minerals amid the ongoing shift toward net-zero global emissions.

The June 2024 Resources and Energy Quarterly report shows exports of clean energy metals and minerals are projected to remain over $50 billion per annum over the next two years. Meanwhile, there are expectations for enhanced exploration activity over the next few years for traditional energy commodities including coal, gas and uranium that are currently experiencing relatively strong prices.

To execute these plans, services – ranging from provision of labour, explosives and transport to draining and pumping services, drilling and blasting services, railways, piping and electrical cabling – are all poised to benefit.

For access to more economic insights, explore Export Finance Australia’s World Risk Developments here. If you would like to learn more about how Export Finance Australia could support your business with finance to secure more contacts, visit the website or contact the team today at 1800 093 724.

This article is also available on the Export Finance Australia website.