Australia's Identified Mineral Resources 2025 Australia’s Estimated Ore Reserves

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Australia’s Estimated Ore Reserves

As part of the Australian Government’s annual assessment of the national minerals inventory, Geoscience Australia compiles all known estimates of Ore Reserves and Mineral Resources reported publicly by mining companies in accordance with the Joint Ore Reserves Committee (JORC) Code, or JORC-code equivalents. In addition, reserve and resource estimates from private companies and foreign companies operating in Australia are also included in the annual compilation wherever possible.

Determining how much of a particular mineral commodity is in the ground and how much is extractable is not an exact science, hence Ore Reserves and Mineral Resources are always referred to as estimates, never calculations. Ore Reserves and Mineral Resources are categorised by confidence in both the geology of the deposit and the economic viability of production. Of all the different categories under the JORC Code (see Appendix 1), an Ore Reserve is the category of highest confidence. From a commercial point of view, this category is the most applicable to understanding the state of Australia’s minerals industry now and in the near future (say, the next five years).

Geoscience Australia began publishing amalgamated national totals for Ore Reserves in 2002. Prior to this, these estimates were included within the national inventory of EDR (and continue to be included) but were not specifically noted.

The JORC Code

In December 2024, the Australian Securities Exchange (ASX) listed more than 1,800 companies. Of these, approximately 43% were categorised as belonging to the energy and materials sectors, which includes mining and exploration companies. Recognising that confidence in such a large part of the Australian economy is paramount, the Joint Ore Reserves Committee (comprising the Australasian Institute of Mining and Metallurgy, the Australian Institute of Geoscientists and the Minerals Council of Australia) have developed the JORC Code for reporting exploration results and estimates of Mineral Resources and Ore Reserves to the public.

The JORC Code has been adopted by the ASX as part of its listing rules and its use is mandatory for all mining companies listed on the ASX and New Zealand Stock Exchange. Variations of the JORC Code have been adopted in many other parts of the world and the code is compatible with the international CRIRSCO14 and United Nations Framework Classification for Resources templates.

In commencing the most recent periodic review of the JORC Code, the Committee noted that while the key focus of the Code remains to provide principles-based disclosure transparency, there are a number of areas where industry, regulator and public expectations have evolved since the last update in 201215.

In July 2021, the Committee released its JORC Summary Paper of Key Issues and Work Plan in which it noted the strong support to update the Competent Person framework and to address environmental, social and governance (ESG) considerations in the JORC Code where appropriate16. In 2024, JORC undertook a series of public engagement sessions prior to the release of the draft JORC Code and a three-month consultation period. In September 2025, JORC released survey feedback and a summary of proposed changes followed by an update in December 2025 announcing a comprehensive legal review and ongoing refinements in conjunction with the market operator (ASX), the regulator (Australian Securities and Investments Commission) and peak industry bodies. As of January 2026, further announcements are anticipated and JORC reportedly intends to release the revised Code in 202617.

Operating mines

In 2024, Australia had over 330 operating mines producing 26 major and minor mineral commodities. In addition, there were a large number of excavations for a range of industrial materials and gemstones (not covered in this publication). In determining the outlook for the industry in Australia, it is useful to look at the Ore Reserves and Mineral Resources associated with operating mines (Table 1) as it is usually easier and cheaper to expand current mines than to start new ones. While some of the mines that operated in 2024 have since closed or been placed on care and maintenance, subject to favourable economic, environmental and regulatory conditions, most will continue mining for the foreseeable future.

One way of gaining an impression of future viability of a mine or resource is to calculate the ratio of reserves or resources to production, thus establishing a reserve or resource ‘life’ (Table 1). The resulting reserve or resource life must be treated with caution as it is an average and it assumes three things:

  1. that production rates in the future will remain the same as those used in the calculation,
  2. deposits deemed economic/uneconomic remain so in the future, and
  3. that depleted resources are never replaced.

In reality, production rates vary from year to year, mining companies continually reassess the economic viability of their deposits and companies typically do upgrade resources or discover new resources to replace ore depletion.

Nonetheless, this ratio provides a potentially useful ‘snapshot in time’ that can help reveal trends in Australia’s ability to supply a range of mineral resources into the future.

Ore Reserves at other mines and deposits

Australia’s Identified Mineral Resources covers 36 mineral commodities, of which 30 have estimated Ore Reserves and 26 were in production in 2024 (Table 2). For some commodities (e.g. bauxite and lithium) all of the Ore Reserves are associated with operating mines (Figure 1). For most commodities (e.g. copper, gold and zinc), Ore Reserves are also attributable to mines on care and maintenance, mines under development and, in some cases, undeveloped deposits. Other commodities, such as Australia’s graphite, potash, scandium and vanadium sectors, did not have operating mines in 2024, so Ore Reserves are predominantly attributable to developing mines and undeveloped deposits

Due to the limited audience of this diagram and its complexity, no alternative description has been provided. Please email clientservices@ga.gov.au

Figure 1. Ore Reserves attributable to mine and deposit status as a percentage of total Australian Ore Reserves in 2024.

Table 1

Table 1. Australia's Ore Reserves and Mineral Resources of selected commodities at operating mines in 2024.

CommodityUnit No. of Operating Mines1 Ore Reserves2 Measured and Indicated Mineral Resources3 Inferred Mineral Resources4 Mine Production5 Reserve Life (years) Resource Life 1 (years) Resource Life 2 (years)
Antimony kt Sb 1 11.1 30.0 9.6 1.3(6) 9 23 30
Bauxite Mt 9 1,783 1,740 1,986 100.5 18 17 37
Black Coal Mt 96 10,959 33,617(7) 20,451 424(8) 26 79 128
Cobalt kt Co 5 173 283 39 4.8(9) 36 59 67
Copper Mt Cu 24 19.11 79.07 31.23 0.75 25 105 147
Gold t Au 141 3,369 7,256 2,666 284 12 26 35
Iron Ore Mt 55 12,330 31,383 53,373 954 13 33 89
Lead Mt Pb 14 6.79 26.19 8.57 0.47 14 56 75
Lithium kt Li 8 4,601 6,779 1,186 108(10) 43 63 74
Magnesite Mt MgCO3 5 n.a. 81 392 0.4(11) n.a. 203 >1,000
Manganese Ore Mt 3 118 267 38 2.7(12) 44 99 113
Mineral Sands(13)
Ilmenite Mt 12 37.2 104.8 22.2 0.51 73 205 249
Rutile Mt 7 1.6 4.6 1.6 0.22 7 21 28
Zircon Mt 9 10.5 26.6 6.3 0.35 30 76 94
Molybdenum Mt 1 104 117 0 1.9(14) 55 62 62
Nickel Mt Ni 13 2.6 7.5 2.1 0.10 26 76 98
Rare Earths(15) Mt oxide 2 2.05 2.42 2.72 0.031(16) 66 78 165
Silver(17) kt Ag 21 15.56 50.23 13.67 1.05 15 48 61
Tin kt Sn 2 113 385 70 11.3(18) 10 34 40
Tungsten kt W 3 53.6 144.9 29.26 >1(19) <53 <144 <173
Uranium kt U 3 307 1,051 346 4.656(20) 66 226 300
Zinc Mt Zn 14 15.56 49.05 20.50 1.10 14 45 63

Abbreviations

t = tonne; kt = kilotonne (1,000 t); Mt = million tonne (1,000,000 t).
Where an element symbol follows the unit it refers to contained metal content.

Notes

Reserve Life = Ore Reserves ÷ Production.
Resource Life 1 = Measured and Indicated Mineral Resources ÷ Production.
Resource Life 2 = (Measured and Indicated Mineral Resources + Inferred Mineral Resources) ÷ Production.

  1. The number of operating mines counts individual mines that operated during 2024 and thus contributed to production. Some of these mines may belong to larger, multi-mine operations and some may have closed during or since 2024.
  2. The majority of Australian Ore Reserves and Mineral Resources are reported in compliance with the JORC Code, however there are a number of companies that report to foreign stock exchanges using other reporting codes, which are largely equivalent. In addition, Geoscience Australia may hold confidential information for some commodities. Ore Reserves are as at 31 December 2024. NB: Not all operating mines report Ore Reserves.
  3. Measured and Indicated Mineral Resources are inclusive of the Ore Reserves. Mineral Resources are as at 31 December 2024. NB: Not all operating mines report Mineral Resources.
  4. Inferred Mineral Resources are as at 31 December 2024. NB: Not all operating mines report Mineral Resources.
  5. Mining production from Office of the Chief Economist, Department of Industry, Science and Resources (Resources and Energy Quarterly, September 2025), unless otherwise stated. Production data often have a higher level of certainty than reserve and resource estimates and, thus, may be presented with more significant figures.
  6. Antimony production from company reports (Mandalay Resources Ltd).
  7. Measured, Indicated and Inferred Mineral Resources for black coal are presented on a recoverable basis. These are Geoscience Australia estimates unless provided by the company.
  8. Mine production refers to saleable coal.
  9. Cobalt production data from Department of Energy, Mines, Industry Regulation and Safety, Western Australian Government (2024 Major Commodities Resource Data File).
  10. Production of lithium spodumene is sourced from the Office of the Chief Economist, Department of Industry, Science and Resources (Resources and Energy Quarterly, September 2025), production of lithium estimated assuming 6% Li2O in spodumene concentrates.
  11. Australian magnesite production from South Australia Department for Energy and Mining (Report Book 2025/00013), the Queensland Department of Resources (Annual Mineral Summary 2021-22 to 2023-24) and assumed minor production from New South Wales.
  12. Australian manganese ore production from Department of Energy, Mines, Industry Regulation and Safety, Western Australian Government (2024 Major Commodities Resource Data File) and company reports (South 32 Ltd). Geoscience Australia estimates 1.1 Mt contained manganese metal produced from 2.7 Mt ore.
  13. Australian mineral sands production data based on estimates from New South Wales Government, Department of Primary Industries and Regional Development (pers. comm.); Department of Energy, Mines, Industry Regulation and Safety, Western Australian Government (2024 Major Commodities Resource Data File); South Australia Department for Energy and Mining (Report Book 2025/00013); and Northern Territory Department of Industry Tourism and Trade (2024 Northern Territory Mining Production).
  14. Molybdenum production is a Geoscience Australia estimate based on company correspondence.
  15. Rare earths comprise rare earth oxides (REO) and yttrium oxide (Y2O3).
  16. Rare earths production data from Department of Energy, Mines, Industry Regulation and Safety, Western Australian Government (2024 Major Commodities Resource Data File).
  17. Major silver producing mines only; many gold and copper mines also produce silver as a by-product but these are not counted here.
  18. The Office of the Chief Economist reports tin production of 11.3 kt in 2024. Renison, Australia’s only significant tin mine, reports 11.0 kt. Additional production is as by-product from other operations such as Greenbushes.
  19. Tungsten production is a Geoscience Australia estimate based on company reports (EQ Resources Ltd and Group 6 Metals Ltd) and assumed minor production at Kara mine in Tasmania (Tasmania Mines Pty Ltd).
  20. Uranium production from company reports (BHP Ltd, Heathgate Resources Pty Ltd and Boss Energy Ltd).

Table 2

Table 2. Australia's Estimated Ore Reserves1 as at December 2024.

CommodityUnit Proved Ore Reserves Probable Ore Reserves Proven & Probable Ore Reserves2 Total Ore Reserves Mine Production3 Reserve Life
Antimony kt Sb 14.2 34.7 0 48.9 1.3(4) 38
Bauxite Mt 808 975 0 1,783 100.5 18
Black Coal Mt 6,176 5,420 1,110 12,706 424(5) 30
Brown Coal Mt n.a. n.a. n.a. n.a. 39.0(6) n.a.
Chromium kt Cr 0 0 0 0 0 0
Cobalt kt Co 232 412 0 644 4.8(7) 134
Copper Mt Cu 8.94 16.07 0 25.02 0.75 33
Diamond Mc 0 0 0 0 0 0
Fluorine kt F 0 0 0 0 0 0
Gold t Au 1,037 3,739 9 4,785 284 17
Graphite Mt 1.5 3.9 0 5.4 0 n.a.
High Purity Alumina Ore(8) Mt 0.2 1.0 0.0 1.2 0 n.a.
Iron(9)
Hematite ore Mt 4,473 7,593 0 12,066 n.a. n.a.
Magnetite ore Mt 2,590 8,566 0 11,156 n.a. n.a.
Iron ore Mt 7,054 16,163 0 23,217 954 24
Contained iron Mt Fe 3,181 6,570 0 9,751 592 16
Lead Mt Pb 5.69 4.09 0 9.78 0.47 21
Lithium kt Li 279 4,322 0 4,601 108(10) 43
Magnesite Mt MgCO3 n.a. n.a. n.a. n.a. 0.4(11) n.a.
Manganese Ore Mt 34 69 17 119 2.7(12) 44
Mineral Sands
Ilmenite Mt 32.3 41.4 0 73.7 0.51(13) 145
Rutile Mt 6.5 6.1 0 12.6 0.22(13) 57
Zircon Mt 14.9 17.6 0 32.5 0.35(13) 93
Molybdenum kt Mo 0 259 0 259 1.9(14) 136
Nickel Mt Ni 2.5 5.3 0 7.8 0.10 79
Niobium kt Nb 58 0 0 58 n.a.(15) n.a.
PGE t metal 0.4 0 0 0.4 0.575(16) <1
Phosphate
Phosphate rock(17) Mt 14 28 81 123 3.1(18) 41
Contained P2O5 Mt P2O5 4 9 20 32 n.a. n.a.
Potash Mt K2O 2.0 8.8 0 10.8 0 n.a.
Rare Earths(19) Mt oxide 2.14 1.66 0 3.79 0.031(20) 122
Scandium kt Sc 6.02 5.63 0 11.65 n.a. n.a.
Silver kt Ag 12.26 9.87 0 22.13 1.05 21
Tantalum kt Ta 6.7 24.5 0 31.1 0.2(21) 155
Thorium kt Th 0 0 0 0 0 0
Tin kt Sn 87 125 0 212 11.3 19
Tungsten kt W 21 198 0 218 >1(22) <217
Uranium kt U 170 159 0 329 4.656(23) 71
Vanadium kt V 0 1,683 0 1,683 0 n.a.
Zinc Mt Zn 10.97 7.36 0 18.33 1.10 17

Abbreviations

t = tonne; kt = kilotonnes (1,000 t); Mt = million tonnes (1,000,000 t); Mc = million carats (1,000,000 carats); n.a. = not available; PGE = platinum group elements (platinum, palladium, osmium, iridium, ruthenium, rhodium).
Where an element symbol follows the unit it refers to contained metal content.

Notes

Reserve Life = Ore Reserves ÷ Production.
Figures are rounded so Proved, Probable and Proven & Probable Ore Reserves may not add up to Total Ore Reserves exactly.

  1. The majority of Australian Ore Reserves are reported in compliance with the JORC Code, however there are a number of companies that report to foreign stock exchanges using other reporting codes, which are largely equivalent. In addition, Geoscience Australia may hold confidential information for some commodities.
  2. ‘Proven & Probable Ore Reserves’ is a reporting category distinct from 'Proved Reserves' and 'Probable Reserves'. It is no longer supported by the JORC Code but because some overseas reporting codes still use this category, and some historical resources fall into this category, it is included in this table.
  3. Mining production from Office of the Chief Economist, Department of Industry, Science and Resources (Resources and Energy Quarterly, September 2025), unless otherwise stated. Production data often have a higher level of certainty than reserve and resource estimates and, thus, may be presented with more significant figures.
  4. Antimony production from company reports (Mandalay Resources Ltd).
  5. Black coal production refers to saleable coal.
  6. Australian production of brown coal is sourced from the Victorian State Government, Earth Resources Regulation, Annual Statistical Report FY 2023-24.
  7. Cobalt production data from Department of Energy, Mines, Industry Regulation and Safety, Western Australian Government (2024 Major Commodities Resource Data File).
  8. Australia's high purity alumina ore is primarily kaolin, but other ore types also occur.
  9. Hematite ore and magnetite ore do not add up exactly to total iron ore Resources due to a small number of data discrepancies.
  10. Production of lithium spodumene is sourced from the Office of the Chief Economist, Department of Industry, Science and Resources (Resources and Energy Quarterly, September 2025), production of lithium estimated assuming 6% Li2O in spodumene concentrates.
  11. Australian magnesite production from South Australia Department for Energy and Mining (Report Book 2025/00013), the Queensland Department of Resources (Annual Mineral Summary 2021-22 to 2023-24) and assumed minor production from New South Wales
  12. Australian manganese ore production from Department of Energy, Mines, Industry Regulation and Safety, Western Australian Government (2024 Major Commodities Resource Data File) and company reports (South 32 Ltd). Geoscience Australia estimates 1.1 Mt contained manganese metal produced from 2.7 Mt ore.
  13. Australian mineral sands production data based on estimates from New South Wales Government, Department of Primary Industries and Regional Development (pers. comm.); Department of Energy, Mines, Industry Regulation and Safety, Western Australian Government (2024 Major Commodities Resource Data File); South Australia Department for Energy and Mining (Report Book 2025/00013); and Northern Territory Department of Industry Tourism and Trade (2024 Northern Territory Mining Production).
  14. Molybdenum production is a Geoscience Australia estimate based on company correspondence
  15. There are no mines producing niobium as a primary product in Australia but it is likely produced in concentrate or as a by-product at some lithium/tantalum operations, but these data have not been reported.
  16. Platinum and palladium production data Department of Energy, Mines, Industry Regulation and Safety, Western Australian Government (2024 Major Commodities Resource Data File).
  17. Phosphate rock is reported as being economic at grades ranging from 15.5% to 30.9% P2O5.
  18. Phosphate rock production based on 488,488 t from Christmas Island (company correspondence); 573,564 t from Ardmore (Centrex Ltd, Quarterly Reports); 615 t recorded by the Department for Energy and Mining, South Australia (Report Book 2025/00013); and Geoscience Australia estimation of 2,040,000 t from Phosphate Hill based on ammonium phosphate production of 740,000 t (Dyno Nobel Ltd, Annual Report 2024).
  19. Rare earths comprise rare earth oxides (REO) and yttrium oxide (Y2O3).
  20. Rare earths production data from Department of Energy, Mines, Industry Regulation and Safety, Western Australian Government (2024 Major Commodities Resource Data File).
  21. Tantalum production data from Department of Energy, Mines, Industry Regulation and Safety, Western Australian Government (2024 Major Commodities Resource Data File). Production represents a maximum as no correction has been made for actual tantalite concentration in reported concentrates.
  22. Tungsten production is a Geoscience Australia estimate based on company reports (EQ Resources Ltd and Group 6 Metals Ltd) and assumed minor production at Kara mine in Tasmania (Tasmania Mines Pty Ltd).
  23. Uranium production from company reports (BHP Ltd, Heathgate Resources Pty Ltd and Boss Energy Ltd).

14 CRIRSCO is the Committee for Mineral Reserves International Reporting Standards.

15 Australian Institute of Geoscientists. JORC Code Update.

16 Australasian Joint Ore Reserves Committee, JORC Summary Paper of Key Issues and Work Plan.

17 Australasian Joint Ore Reserves Committee, JORC Update December 2025.