Foreword

Investment remains active but increasingly selective, with financial discipline taking precedence. Projects with strong fundamentals – robust reserves, credible permitting pathways and demonstrable community engagement – are attracting capital, whereas speculative ventures face heightened scrutiny.

Technology adoption is gathering pace across the value chain. From autonomous fleets and AI-driven exploration to advances in tailings management and low-carbon technologies, mining companies are embracing tools that improve efficiency, enhance safety and lower emissions. These technologies are no longer experimental – they are becoming integral to competitiveness and long-term value creation.

Regulation continues to evolve as governments worldwide tighten environmental standards and ramp up efforts to secure domestic supplies of critical minerals. For miners, this creates both opportunities and challenges: supportive policies can accelerate growth, while unpredictable shifts contribute to market fluctuation and raise operational risk.

Prices of several commodities through 2025 have reflected a tug of war between tariff shocks, demand weakness and safe-haven investment flows. Gold and silver hit repeated highs, most recently boosted by the US’ interest rate cut. Platinum also benefitted from buyers seeking gold alternatives. Base metals displayed limited strength, with copper pressured by tariffs and China’s weak manufacturing.

The energy transition offers unparalleled prospects but also unprecedented pressure. Demand for copper, lithium and nickel is projected to soar, yet scaling production efficiently and responsibly remains a major challenge.

Amid these dynamics, mining’s role in enabling a low-carbon future has never been more important. As mining companies strive to reduce their carbon footprints, they are looking to leverage decarbonisation technologies that can guarantee not only sustainable practices but also cost efficiency and operational excellence.

At MINE, our mission is to provide the clarity and context needed to make sense of this fast-changing landscape. Through rigorous analysis, expert insights, and world-class data and intelligence, we aim to be your trusted partner as the mining industry confronts risk, embraces innovation and seizes opportunity.

Thank you for your continued engagement as we look ahead to the future of mining.