Appointment of US Business Development & Strategy Advisor
Australia exports a wide range of important mineral resources, including precious metal gold, base metals such as copper, iron ore, aluminum and nickel, and energy resources oil, natural gas and coal. In recent years, lithium has also become a major mineral export for Australia.
During the 2023/2024 period, Australia’s mineral exports reached AU$415 billion, according to the Department of Industry, Science and Resources (DISR), which is forecasting a decline to AU$387 billion for 2024/2025.
“Modest global economic growth is expected over the outlook period, as lower inflation allows some central banks to make further small cuts in official interest rates,” the department’s March 2025 Resources and Energy Quarterly stated. “Trade actions and retaliatory measures will likely detract from global growth and may further geopolitical tensions … In volume terms, most of Australia’s resource exports are likely to show a modest pick up through the outlook period.”
Export Finance Australia highlights that in March 2025 the Organisation for Economic Co-operation and Development (OECD) downgraded its global growth forecast to 3.1 percent for 2025 and 3 percent for 2026 on uncertainty over trade and stickier than expected inflation.
However, there is a silver lining for Australia, as the nation’s “diversified export profile ensures (its) GDP is relatively less dependent on US exports.”
Australia’s top mineral resources
But what are Australia’s top mineral resources by export value? Read on for a breakdown of Australia’s five most valuable natural mineral resource exports, iron ore, liquified natural gas, coal, gold and copper.
Combined, the country’s mineral exports accounted for two thirds of Australia’s merchandise export earnings in the 2023/2024 financial year, as per the data from the Department of Industry, Science and Resources. Prices are reported as real export values using 2024/2025 commodity prices.
1. Iron ore
According to the DISR’s data for 2023/2024, iron ore accounted for AU$141 billion of Australia’s export value during that period.
As the world’s largest producer and exporter of iron ore, Australia is the king of the iron game. US Geological Survey (USGS) information shows that Australia produced 930 million metric tons of iron ore in 2024, accounting for 37.2 percent of global production.
Iron is used in everything from infrastructure to transportation to advanced technology, meaning Australia and its many iron ore mines in Western Australia have enjoyed a mighty run of economic prosperity as China has leaned into its push for industrialization.
As for future iron ore export value, the metal is forecast to bring in AU$117 billion for 2024/2025. Looking further out, weaker demand out of China and globally is likely to dampen demand for iron ore going forward, which led the department to project iron ore export…
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