Gold built Victoria’s mining legacy, but a new wave of critical minerals is helping to position the state for its next resources chapter.
Victoria’s mining story has always been spun with gold. The discovery of payable gold at Ballarat in the early 1850s reshaped the state forever, triggering a rush that transformed a young colony into one of the world’s mining centres.
But while gold built Victoria’s identity, its future is increasingly linked to a different suite of resources. Critical minerals are emerging as the foundation for a new era, and Victoria is positioning itself as a key player.
Australian Mining spoke with executive director of the Minerals Council of Australia in Victoria, James Sorahan, who said that while state’s gold sector remains strong, it’s the emerging critical minerals opportunity that is placing it firmly in discussions around national supply chains and global partnerships.
Antimony, in particular, stands out as a mineral of growing significance.
“Victoria is a big part of Australia’s critical minerals future. We are currently the only state mining antimony,” Sorahan said. “Although antimony has been produced in New South Wales previously, Victoria now holds the country’s active operations and some of its most promising exploration projects.
“Victoria is producing probably four or five per cent of the world’s supply of antimony.”
Strategic demand from partners such as the US, Canada, the UK and the EU has amplified the importance of Victoria’s critical minerals deposits.
The ‘Melbourne Zone’, home to gold and antimony discoveries by Southern Cross Gold, offer a convergence rarely found anywhere in the world.
“The combination is something that is really unique,” Sorahan said.
Beyond antimony, Victoria’s rare-earth-rich mineral sands deposits present one of the state’s greatest long-term opportunities. The Murray Basin contains the world’s largest known mineral sands deposits, yet Victoria remains the only basin state not currently mining them.
That, Sorahan believes, is likely to change. “We can be a real powerhouse in gold, mineral sands, rare earths and antimony,” he said.
Sorahan pointed to how rapidly global markets are evolving.
“The world has changed in the past 10 to 15 years. Rare earths are now really important,” he said.
Proposed mineral sands operations in Victoria hold rare-earth-rich deposits with mine lives of more than 20 years, representing a major opportunity for stable regional employment and long-term economic benefit.
The Victorian Government has also recognised the significance of these emerging industries and increased its support for the sector, with improvements to regulatory pathways a major step forward.
“We have, I think, the best project facilitation office in the country,” Sorahan said, referring to the Resources Victoria Approvals Coordinator introduced in 2023.
“It has helped complex projects navigate multiple acts and regulations and has brought regulators together to support investment.”
In addition, the streamlining of exploration approvals has provided further momentum.
“We are now approaching about 100 per cent within the statutory timeframe of exploration licences being granted,” Sorahan said.
This consistency has been essential as explorers sought to progress advanced drilling and development programs across multiple commodities.
As Victoria prepares for this growth, building a strong skills pipeline is key.
“We need more exposure to earth sciences in schools and universities offering metallurgy, mining engineering and geology,” Sorahan said.
He also emphasised the importance of maintaining strong geoscience capability.
“We need to ensure that we have the right geological knowledge through GeoSurvey Victoria,” he said.
Sorahan believes land access remains central to enabling exploration and future mines. “Farming and mining can work together,” he said.
“The industry is committed to quality rehabilitation, and we want to ensure everybody benefits.”
Victoria’s golden legacy has created the foundation for a thriving modern sector. But as global demand for critical minerals has accelerated, the state is poised to contribute much more. With rare-earth-rich mineral sands, high-value antimony deposits and deeper gold yet to be uncovered, Victoria was entering a new chapter driven by its history and its future potential.
As Sorahan put it, Victoria is “really open for business” and ready to take its place in Australia’s critical minerals landscape.
If the gold rush of the 1800s shaped Victoria’s past, the emerging critical minerals era had the potential to shape its future. And for the first time in decades, Victoria is not only part of Australia’s mining conversation – it is back at the centre of it.
Read more: Australia an ‘emerging, strategic option’ for antimony
This feature appears in the February issue of Australian Mining magazine.