While some commodities have endured a difficult 2024 amid cyclically low prices, others are experiencing renewed prosperity in the face of heightened demand.
Mining and exploration companies must steel themselves to the undulations that come with working in an industry that hinges so dominantly on supply and demand.
But while all miners are likely to face a bear market at one point or another, there are ways in which companies can insulate themselves from the ups and downs.
Australian Mining sat down with SRK Consulting to examine the past year in the local and international mining industry, and to assess some potential trends for 2025.
The year that was
According to SRK's principal geoscientist Carl D'Silva, the seeds of 2024 were laid when decarbonisation first became a global priority following the instalment of the Paris Agreement in 2015.
"The energy market is growing exponentially, and if you say you're going to decarbonise an economy yet you're not bringing in the battery minerals such as nickel, lithium, graphite, manganese and cobalt, you really aren't making any dent into your decarbonisation goals," D'Silva told Australian Mining.
"So when the decarbonisation push began, we needed a quantum change in how we mined commodities."
"One piece of advice I was given by some seasoned explorers is that if you're an exploration company, it's best to play in the big markets," Johnson told Australian Mining.
"And what we've seen this year is more mature minerals like copper have been reasonably resilient, because the copper market is so huge." Copper has been mined and consumed across the world for centuries, making the supply-demand dynamic more predictable. And because copper's end market has significantly more scale than some other maturing commodities, a proportionally surging demand can make it hard for supply to keep pace.
This story is from the December 2024 edition of Australian Mining.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber ? Sign In
This story is from the December 2024 edition of Australian Mining.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber? Sign In
EXPLORING NEW FRONTIERS
THE PNG EXPO WILL BE BACK AND BIGGER THAN EVER IN JULY 2025.
THE POWER OF CONVERSATION
AUSTRALIAN MINING SAT DOWN WITH TWO OF AUSIMM’S 2025 INTERNATIONAL WOMEN’S DAY SERIES AMBASSADORS TO DISCUSS WHAT DIVERSITY, EQUITY AND INCLUSION MEANS TO THEM.
A NEW ERA FOR AIMEX
As the world shifts from fossil-based energy sources to renewables, Australia is preparing to take centre stage as a leading critical minerals provider.
A NEW SCOPE FOR STOPE
EMESENT’S HOVERMAP LHD HAS HELPED BYRNECUT ACHIEVE NEAR-REAL-TIME 3D STOPE HAZARD AND VOLUME ASSESSMENTS.
COLLABORATING FOR THE FUTURE
THE 2024 WA MINING CONFERENCE AND EXHIBITION SERVED AS ONE OF THE LARGEST PLATFORMS FOR INDUSTRY PLAYERS TO COME TOGETHER FOR INNOVATION.
LOOKING TO THE FUTURE
WHAT CAN THE SEPTEMBER RESOURCES AND ENERGY QUARTERLY’ TELL US ABOUT THE FUTURE OF COMMODITY EXPORTS IN AUSTRALIA?
POWERING MINING'S TRANSPORT NEEDS
WITH MINING OPERATIONS EXPANDING ACROSS THE COUNTRY, THERE IS A RISING DEMAND FOR DEPENDABLE TRANSPORT SOLUTIONS.
SERVICE FROM SHORE TO SHORE
WHETHER ON THE GLOBAL STAGE OR FROM ITS DEDICATED AUSTRALIAN BUSINESS, THEJO ENGINEERING IS TAKING ITS COMMITMENT TO ITS CUSTOMERS TO A NEW LEVEL.
A COMPREHENSIVE OEM PARTNER
THACO INDUSTRIES, VIETNAM'S LEADING OEM PARTNER FOR INDUSTRIAL EQUIPMENT, IS GROWING ITS REPUTATION IN THE AUSTRALIAN MINING INDUSTRY.
LITHIUM’S NEXT GENERATION
The global mining industry understands that commodity markets will experience regular fluctuations.