The Mine 2025 report of PwC demonstrates the robust development of the world's global metals and mining industry because of the pressure caused by the demand for gold and critical minerals.

According to the Mine 2025 report released by PwC, the metals and mining sector has a strong growth path in the coming years and it could be attributed to a combination of record gold prices, higher demand for critical minerals, and the rapidly evolving digital transformation.

Despite the global economic challenges, in 2024, the world's 40 largest mining producers received the amount of revenue of 689 billion dollars and the net incomes of 92 billion dollars. Gold has become the key force with gold revenues increasing 15 percent and EBITDA improving 31 percent.

PwC Australia global mining and metals leader Franz Wentzel noted how the industry was faring with its current challenges of cost increase and geopolitical complexity. In a report, it is the responsibility of the metals and mining sector to highlight the strategic importance of metals and mining in energy, mobility, and infrastructure.

Demand for transition minerals such as lithium, cobalt, copper and rare earths is rising as countries go towards renewable energy. Australia, Canada, and the U.S. are sharpening their efforts to ensure the supply of minerals.

Interestingly, Australia launched the initial rare earths manufacturing facility in Kalgoorlie and it is still investing in battery metals. The nation has 16 percent of worldwide cobalt reserves and did manage 1 percent in 2024, which means that the situation is bright with regard to its growth.

PwC estimates the free cash flow of this industry will soar to 63 billion dollars by 2025, which further advises that metals and mining have lasting powers.