AIMR 2023 Australia's Identified Mineral Resources 2023

Minister's Foreword

Australia has a long history of being a responsible and reliable supplier of minerals.

Our unique geology means we are home to globally significant deposits of important and often rare minerals, including those identified by the Australian Government as critical and strategic to Australia's future needs, and that the world needs to achieve net zero emissions by 2050.

The 2023 edition of Australia's Identified Mineral Resources (AIMR) draws on over 45 years of data, meticulously tracking our nation's mineral resources and unveiling crucial trends in reserves, resources and production.

AIMR 2023 shows that Australia produced 27 minerals, 15 of which ranked in the top five for global supply. It shows Australia is number one in the world in economic resources for gold, iron ore, lead, nickel, rutile, uranium, zinc and zircon.

In the 2022 calendar year, Australia's resources industry stepped up and responded to the challenge of increased global demand for critical minerals through new and additional exploration, and in defining new economic resources.

In fact, 13 critical minerals saw their Economic Demonstrated Resources (EDR) increase significantly during 2022. This included manganese ore (up by 79 per cent), platinum group elements (up by 45 per cent), and rare earth elements (up by 34 per cent). In addition, the EDR of tin, a strategic material, was up by 6 per cent.

Other key highlights from AIMR 2023 include:

• Investment in mineral exploration increased by 13 per cent, to $4 billion.
• Australia remained the world's largest producer of lithium (52 per cent of the global total), with lithium production up 36 per cent to a record 75 kilotonnes.
• Australia also ranked as the world's largest producer of bauxite, iron ore and rutile.
• Uranium production was up 20 per cent.

The new insights in AIMR 2023 are key for our journey towards reaching net zero emissions by 2050. They inform government and industry decision-making and assist in guiding future exploration and discovery. They will help to unlock our nation's critical minerals potential. The road to net zero runs through Australia's resources industry, due to the breadth of critical minerals and strategic materials located beneath our vast island continent. The world needs those minerals for batteries, solar panels, wind turbines and electric vehicles.

The Australian Government's updated Critical Minerals List assesses Australia's geological endowment and potential with global technology needs. It is vital we recognise the important role we play in supporting global supply chains through increased diversity, improved resilience and sustainability.

The newly established Strategic Materials List identifies those commodities essential for the energy transition, but which are not at risk of supply chain disruptions given their robust global markets.

Government investment in precompetitive geoscience is critical to understanding quite literally what Australia is made of. This information is essential to strengthen our economy, inform our communities and move forward towards a sustainable future for all Australians.

I commend Geoscience Australia on AIMR 2023. This comprehensive and important publication is not only a vital tool for industry, but it also recognises the premier position Australian resources hold on the world stage.

The Hon Madeleine King MP
Minister for Resources and Minister for Northern Australia