MARKET INSIGHT | AUSTRALASIA
Australia –Total value of mineral exploration (AUD Million) 1,200
1,000 800 600 400 200 0
40% 30% 20% 10% 0%
-10% -20%
Value % change, YoY
Australia – Total exports, current prices (AUD Million) 60
50 40 30 20 10 0
60% 50% 40% 30% 20% 10% 0%
-10% -20% -30%
Value % change, YoY
Major developments Several significant projects have advanced during 2026. The Western Australian Government approved South Korean steelmaker Posco’s plans for a low-emissions HBI plant in the Pilbara region. The AUD4.3bn ($2.8bn) project is expected to produce approximately two million tonnes of HBI per year by processing between three and 3.5 million tonnes of raw iron ore annually. Construction is scheduled for completion in 2028. In April, the Australian Government established a partnership with US aerospace and defence technology company Northrop Grumman to develop a sovereign solid rocket motor manufacturing complex. The AUD126.9m ($81.8m) facility is expected to produce multiple types of solid rocket motors when completed in 2033, supporting the development of domestic manufacturing capabilities in the defence sector. Investment in critical minerals is similarly driving new capacity. In late May 2026, Australia- based critical minerals company RZ Resources
44 | September 2026 |
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secured approval from the New South Wales Government for its AUD693m ($446.6m) Copi Mineral Sands Project. Scheduled for completion in 2029, the project will extract approximately 400,000 tonnes of critical mineral ore annually over an anticipated 18-year operating period. The manufacturing sector is also seeing investment from established international companies. Building materials manufacturer Mapei began construction of a AUD60m ($38.7m) manufacturing facility in Truganina, Victoria, in April 2026. The facility, which will produce high-performance construction materials, is scheduled for completion in late 2026. Meanwhile, US food manufacturer Mars announced in May 2026 that it would invest AUD200m ($128.9m) in its Australian manufacturing operations by the end of 2027. The investment will expand production capacity across its Asquith, Bathurst, Wyong, Ballarat, Wacol and Wodonga facilities. Expansion of the company’s Wodonga pet food factory is also
planned, including an AUD112.5m ($72.5m) wet pouch production facility targeted for completion by the end of 2027.
Looking ahead The outlook for Australasia’s industrial construction market remains closely tied to Australia’s mining and manufacturing investment cycle. Strong mineral exploration activity, government support for critical minerals processing and growing investment in domestic manufacturing are creating opportunities across the industrial construction supply chain. While the majority of projects remain at the
pre-planning or planning stage, the size of the pipeline suggests significant potential for construction activity over the coming years. The combination of mining investment, critical minerals policy, manufacturing reshoring and emerging industries such as green hydrogen and defence manufacturing is expected to keep Australia at the centre of industrial construction activity in the region.
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