Australian Mining in 2025

In 2025, Australia’s mining sector is being defined by its ability to balance the uncertainty caused by complex geopolitical dynamics against the frenzy of the soaring gold prices; the promise of critical and battery minerals opportunities against the realities of volatile markets; and the impact of high costs and over regulation against the continually evolving ESG and community expectations.

While gold has been a stand out, and iron ore and coal are still the biggest numbers on Australia’s export receipts, the centre of gravity is slowly moving back towards critical minerals and other energy-transition inputs, favouring those with a stable enough balance sheet to ride out the low-price cycle.

Gold M&A remains the shining example

The gold industry has emerged as one of the few bright spots in an otherwise subdued resources and M&A landscape in 2025. Elevated gold prices have buoyed the balance sheets, and cashed-up producers are directing that liquidity towards acquisitions focused on extending asset life and augmenting reserve inventories. A marquee transaction of 2025 so far has been Northern Star Resources’ acquisition of De Grey Mining for AUS$6.1 billion.

The transaction hands Northern Star the flagship Hemi deposit in Western Australia’s Pilbara region, offering both a clear growth runway and a meaningful reduction in development risk for what is widely regarded as a tier-one project. Northern Star’s move, the largest Australian gold deal of 2025, has proven catalytic.

Its announcement was quickly followed by Gold Fields’ proposal to acquire its joint-venture partner Gold Road, Ramelius Resources’ pursuit of Spartan Resources, and asset level consolidations by Genesis Minerals. The pattern is unmistakable: well-capitalised producers, many already generating robust margins, are willing to transact at scale to offset declining grades at mature operations and position themselves for sustained demand in the bullion market.

In short, consolidation is becoming the strategy of choice for gold miners seeking both immediate reserve replacement and longer-term optionality, and the sector shows little sign of loosening its grip on the deal-making crown.

 

This is a preview of an article that was originally published in the October 2025 issue of Global Mining Review. Subscribe to Global Mining Review for free to read this article in full and many more here.

Read the article online at: https://www.globalminingreview.com/special-reports/27102025/australian-mining-in-2025/