Australian Construction Outlook – Resources

The overall resources construction sector is still in decline, but only because of the persistent falls in oil & gas investment. The COVID-19 global pandemic has placed some downward pressure on the resource construction industry but the impact up until the end of June 2020 was more limited than we previously anticipated. Despite this, one bright spot is the strong growth in other minerals, driven largely by iron ore projects. Total resources construction is expected to begin to recover in 2021, increasing strongly from the middle of the year, and rising through to a peak in 2024/25.

The outlook is however, highly variable among the different resource segments.

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