COALITION: URANIUM DEMAND MAKES IT CRITICAL AS MINING EXPLORATION REMAINS WEAK

• Uranium prices and demand increasing – Coalition renews calls to add uranium to critical minerals list.
• Gov report confirms mining exploration expenditure remains low – rising costs, uncertainty to blame.
• Gas exploration spending falls $35m from March-June 2025.

The latest Resources and Energy Quarterly report has today confirmed that uranium is key to global energy supply, as demand and prices are set to increase in coming years, renewing calls from the Coalition to add uranium to Australia’s Critical Minerals List.

However, the Department of Industry, Science and Resources has confirmed that mining exploration expenditure remains at its lowest point in almost a decade, with drilling metres falling to new 9-year low, blaming rising costs and investment uncertainty.

Senator Susan McDonald, Shadow Minister for Resources, said that this report confirms that our resources sector continues to suffer under the Albanese Labor Government, as exploration expenditure remains weak.

“The best gauge of investment appetite in our resources sector is investment expenditure, and consistently weak expenditure in mining and new lows for drilling metres highlights the risk to Australia’s future investment pipeline,” Senator McDonald said.

“More worryingly for our gas industry is the $35 million drop in onshore exploration spending – a clear warning sign that Labor’s policies are continuing to drive investment offshore.

“This decrease will only lead to tighter gas supplies and higher prices for our besieged manufacturing industry.

“However, this report makes clear the opportunity that Australia has to leverage our valuable uranium reserves to our advantage, as global demand is set to continue to increase.

“Australia’s Critical Minerals List is meant to include minerals that are in demand from our strategic international partners, are found in Australia, and are vulnerable to supply chain disruption.

“It is clear that uranium fulfills these requirements, and it is clear the Coalition was correct in calling for its inclusion prior to the last election.

“I urge the Labor Government to leave scare-campaigns at the door, and make a clear-eyed assessment of the strategic importance of our uranium reserves to global energy demand.”

ENDS

Media Contact

Julian Tomlinson – julian.tomlinson@aph.gov.au – 0421 059 187