Tracking the Trends report

28 January 2026: For the mining and metals sector, the second half of the decade looks dramatically different from the first. Minerals critical to the energy transition have become a national security priority, while artificial intelligence (AI) and other future technologies are reshaping operating models, creating new opportunities and new risks.

These are just some of the forces shaping mining and metals companies that are explored in the 18^th annual edition of Tracking the Trends 2026 report, which shines a spotlight on the challenges confronting the industry over the next 12 to 18 months and highlights the need for deeper sector collaboration.

Each trend draws on the experience of Deloitte’s worldwide network of mining and metals practitioners and offers practical pathways to act, from data and AI-enabled exploration and smart operations to future-fit operating models and resilient value chains. 

Deloitte Australia Mining & Metals Leader Nicki Ivory said: “The trends impacting the mining and metals sector feel almost unprecedented, and Australia is in the eye of the storm.

“Our abundant critical mineral supply, once seen primarily as an energy transition enabler, is now at the centre of global national security discussions. Companies are expected to balance powering clean energy with reinforcing defence strategies, all while meeting growing consumer demand. 

“Meanwhile, the exponential growth of AI is presenting transformative opportunities to elevate operational resilience and competitiveness by boosting productivity and revolutionising mineral discovery. Off-site, the arrival of agentic AI is forcing a rethink of how workforces should be structured in a world where humans and agents work side by side.

“Together with other technologies, AI is accelerating the impetus for organisations to optimise their own performance through smart operations - fully connected ecosystems where assets, systems, and people work together in real time to make mining safer, faster and more reliable.”

Deloitte Global Mining & Metals leader Ian Sanders said: “The question for the mining and metals industry is no longer whether we can supply the materials that power global progress, but how we do so in a way that uplifts people, economies, and ecosystems alike. 

“True transformation will likely depend on working together to create the trust, agility, and shared vision needed to turn complexity into collective progress.”

Top industry trends

Deloitte has identified ten trends that could impact the industry over the next 12 to 18 months. Each of these trends has a role to play in guiding companies to help achieve their objectives as they seek to redefine how they create and share value.

1. Critical minerals in national security: Once seen primarily as enablers of the energy transition, critical minerals are now at the centre of national security discussions worldwide. Success will likely come to those that embrace new roles as strategic collaborators, balance short-term agility with long-term investment, and align their business models with both security imperatives and sustainability commitments.
2. Future-proofing portfolios: Mining and metals companies are facing a new set of priorities, demanding a shift from traditional portfolio management approaches to more strategic, agile, and sustainable practices. Given global volatility, companies that persist with a narrow or static definition of portfolio management could risk being left behind, while those that embrace complexity and develop the ability to adapt may be better positioned to lead.
3. Deep purpose as a differentiator: In this new era of heightened scrutiny, shifting societal values, and rapid technological transformation, the pursuit of deep purpose is emerging as a defining factor of competitiveness. Mining companies increasingly recognise that a clear, authentic sense of purpose is no longer a ‘nice to have,’ it’s important for building resilience and stakeholder trust and fuelling business growth.
4. Evolving operating models: Mining and metals companies should go beyond rethinking business strategies and look more deeply at breaking the conventions of industry operating model designs. This means defining the configuration of governance, people, processes, technology, and culture to optimally deliver value and help enable resilience, agility, and long-term profitability.
5. Extracting advantages from data: Today, mining companies gather vast amounts of operational data, yet productivity improvements are only possible if that data is managed and leveraged to achieve the organisation’s goals. Optimising the performance of highly complex operations and value chains could require the creation of smart operations. 
6. AI for operational excellence: AI is rapidly becoming a foundation for operational excellence for mining and metals operations, helping companies realise productivity uplifts while prioritising safety, addressing workforce gaps, safeguarding operations against cyberthreats and more. Companies that deploy AI strategically, rather than tactically, could find themselves better positioned to anticipate risks, protect their people, and seize emerging opportunities.
7. The next evolution of human resources (HR): Generative AI (GenAI) has already begun reshaping HR processes and functions in mining and metals, but the next horizon - agentic AI - will likely require a rethink of how work is structured, how roles are defined, and how humans and digital agents collaborate. For Chief Human Resource Officers (CHROs), this is not just a technology challenge but a leadership imperative. By balancing their responsibilities as business owners, workforce leaders, and people stewards, they can harness AI’s potential while keeping humans at the centre.
8. Redefining mineral exploration: Mining and metals companies have historically focused on ground acquisition and physical prospecting, but the starting point for future discoveries could be data. Those that prioritise digitisation, structure their information consistently, and integrate diverse sources into unified repositories may be best positioned to leverage AI for faster, smarter discoveries.
9. Unlocking resource wealth: Demand for critical minerals and metals will likely soar over the next decade as the world population grows and urbanises, the global energy transition accelerates, and national and regional security scales. As governments recalibrate their strategies, mining and metals companies could prove important allies. Their global reach, technical skills, and ability to mobilise capital positions them as natural collaborators in aligning national ambitions with market realities, ensuring that industry and society both benefit from a rapidly shifting geopolitical landscape.
10. Scaling sustainability adaptation: As extreme weather, water scarcity, and ecosystem degradation pose growing risks to business continuity, the mining and metals sector faces mounting urgency to build physical resilience that safeguards long-term competitiveness, protects communities, and enables the clean energy transition. The sustainability of the mining and metals industry could lie in leveraging ecosystems of stakeholders - including suppliers and services companies, clients, and government - to enable collaborative adaptations and advantages, data-sharing and shared responsibility.

To read the full report and learn more about the trends shaping the mining and metals industry, please visit www.deloitte.com/trackingthetrends.