Agreements and Frameworks

Australia’s mining and resources industry is supported by an extensive network of free trade agreements (FTAs) and policy frameworks that enable the export of minerals, fuels and mining services. Major FTAs include the Australia–United States Free Trade Agreement (AUSFTA), the ASEAN–Australia–New Zealand FTA (AANZFTA), and bilateral agreements with Japan, Korea, and the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP). These frameworks lower tariffs and improve market access for mineral products, mining equipment and technical services.

Investment in mining is regulated under the Foreign Acquisitions and Takeovers Act 1975 and overseen by the Foreign Investment Review Board (FIRB). Australia’s membership in the World Trade Organisation (WTO) and its participation in the Indo-Pacific Economic Framework for Prosperity (IPEF) reinforce commitments to transparent trade and responsible supply chains.

In the resources sphere, Australia has signed Critical Minerals Partnership agreements with the United States, Japan, India, and the Republic of Korea to promote investment and supply chain cooperation. The Minerals Council of Australia also advocates policies that enhance international competitiveness and downstream processing capacity in critical minerals.

Trade

Exports

Mining and energy commodities dominate Australia’s export portfolio. Iron ore remains the single largest export, earning about A$124 billion in 2023–24, with major markets in China, Japan, and South Korea. While lower iron ore prices and slower Chinese growth softened export values, high production volumes sustain earnings.

Coal exports, comprising both metallurgical and thermal coal, remain vital for steelmaking and energy. In 2024, coal exports were valued at around A$81 billion, supported by strong demand from India, Japan, and Korea.

Gold has become Australia’s third-largest resource export, with values exceeding A$25 billion in 2024, driven by record global prices and investor demand for safe-haven assets.

The fastest-growing segment is critical minerals, especially lithium, nickel, copper and rare earths, which together contributed more than A$33 billion to exports in 2024. Demand for battery metals and clean-energy inputs continues to expand, positioning Australia as a strategic supplier to advanced economies.

Imports

While Australia is a major exporter of raw materials, it also imports specialised mining machinery, processing equipment, and technical services essential for production. Key suppliers include the United States, Germany, Japan and South Korea. Imported items such as heavy vehicles, drilling rigs, crushers, and control systems form critical inputs in large-scale mining operations.

In addition, Australia imports services in engineering design, environmental management, and technology consulting that support exploration and mine development. These inputs highlight the two-way nature of trade in the sector, where imports enable efficiency and exports deliver surplus value. Overall, the industry maintains a significant trade surplus, making it the largest positive contributor to Australia’s balance of trade.

Investment

Inbound Investment

Australia’s mining industry attracts more than twice that of any other Australian sector, reflecting investor confidence in stable regulations, geological potential, and reliable infrastructure. Mining and quarrying accounted for A$407.7 billion of the total FDI stock in 2024, about one-third of all foreign investment in Australia.

Outbound Investment

Australian firms are also expanding abroad to secure resources and access downstream markets. At the end of 2024, Australia’s total investment abroad was valued at A$4.3 trillion, including A$21 billion in direct investment outflows over the year. Mining companies such as Fortescue, Rio Tinto, and OZ Minerals have invested in projects across Chile, Indonesia, and Canada to diversify supply and build processing capacity closer to consumer markets.

The mining and resources sector makes a dominant contribution to Australia’s international trade and investment. Strong exports in iron ore, coal, gold and critical minerals underpin a persistent trade surplus, while robust inbound investment continues to finance large-scale projects and innovation. Outbound investment by Australian companies further integrates the country into global supply chains for the clean-energy transition.

For readers seeking more detailed data and analysis, recommended sources include the DFAT Trade and Investment Data Portal, the ABS International Investment Position, the Department of Industry’s Resources and Energy Quarterly, and the Minerals Council of Australia Policy and Research Library.