Sydney, December 19th (Argus) - The Australian Chief Economist Office (OCE) predicts that Australia's manganese and rare earth exports, along with the support of the key minerals agreement reached by the government with the US government in October, will drive the growth of the country's other key mineral export revenues.
In the December issue of the "Resources and Energy Quarterly" published on December 19th, the OCE stated that the export value of Australia would reach 5.9 billion Australian dollars (3.9 billion US dollars) for the fiscal year from July 2026 to June 2027. This prediction is higher than the 5 billion Australian dollars in September last year. The country's higher export revenues will be driven by the growth of its manganese and rare earth exports.
It is expected that the manganese production will reach 3.87 million tons from July 2026 to June 2027, higher than 3.84 million tons in 2025-26 and 1.5 million tons in 2024-25.
It is expected that the manganese export revenue of Australia will increase from 1.4 billion Australian dollars in the fiscal year 2024-25 to 2.7 billion Australian dollars in the fiscal year 2026-27. Meanwhile, the rare earth export revenue will increase from 181 million Australian dollars in the fiscal year 2024-25 to 410 million Australian dollars in the fiscal year 2026-27.
The agreement between Australia and the United States will provide at least 1 billion US dollars in financing for new projects in both countries, thereby supporting new investments in Australia's key mineral sectors.
The OCE stated that due to reduced global demand, the prices of mineral sands, including zircon and titanium ores, are falling. Australian producer Iluka Resources has suspended its Cataby mine, which produces zircon, rutile, and synthetic rutile, from December 1st for one year. The sales of zircon concentrate from July to September decreased by 45% compared to the previous year.
The total output of rare earth oxides for the year 2023-24 has not been counted. It is expected to reach 10,872 tons by the fiscal year 2026-27.
