Western Australia's relentless commodities boom is attracting significant attention from investment firms, with a prominent Perth fund manager and a Trans-Tasman bank actively expanding their operations to secure a larger share of the lucrative mining deals emerging from the region.
Argonaut's Stellar Performance and Commodity Focus
Argonaut, a Perth-based investment manager, enjoyed an exceptional year in 2025, with its gold-centric funds ranking among the nation's top performers. The firm's Global Gold fund delivered an impressive return of 119.4 per cent, while its broader Natural Resources fund achieved a 68.7 per cent return.
David Franklyn, Argonaut's head of funds management and a long-time advocate for gold, remains bullish on the precious metal for 2026. However, he has identified three additional commodities with strong potential: uranium, copper, and gas.
Key Commodities in the Spotlight
Uranium: Mr Franklyn noted that major global economies are increasingly recognising nuclear power as a vital component of future energy mixes. He highlighted a persistent shortage of new uranium supply, which is expected to support prices.
Copper: This metal stands out due to robust demand drivers, such as data centre expansion. Mr Franklyn pointed out the difficulty in bringing large volumes of new copper supply online, with existing production from Chile, Peru, and the Democratic Republic of Congo often subject to geopolitical volatility.
Gas: Argonaut sees significant opportunity in the east coast gas market, attributing this to what it views as inadequate government policy. While demand remains firm, supply is declining due to restrictions on development and exploration.
Strategic Team Expansion
In anticipation of another profitable year, Argonaut is bolstering its team. The firm recently hired an experienced mining analyst, whose identity remains confidential, set to commence next month. Mr Franklyn emphasised that this move aims to enhance the business's expertise and scale during a favourable market period.
Jarden's Push into Perth's Mining M&A Market
Meanwhile, Auckland-headquartered investment bank Jarden has completed a strategic hiring spree to penetrate Perth's red-hot mining mergers and acquisitions market, which is heavily focused on gold producers.
Earlier this month, Jarden recruited Adam Reid, formerly managing director at Gresham Advisory, along with his team, to lead this initiative. Mr Reid brings extensive experience, having advised industry giants like Newcrest, Glencore, and Evolution Mining, and facilitated mid-market deals such as the $3.7 billion sale of Gold Road Resources to South Africa's Gold Fields.
Bridging Market Gaps
Jarden's new mergers and acquisitions team will be based in Sydney, complementing the bank's existing Perth-based resources analyst, Ben Lyons. Aidan Allen, Jarden's executive chair, stated that the team will frequently travel to Western Australia to establish a strong presence in the resource-focused Perth market.
Mr Allen identified a gap in the resources advisory market that Jarden aims to bridge. He explained that the sector consists of two distinct segments: the large-cap end, involving companies like Newcrest, Rio Tinto, Glencore, and BHP, and the smaller end, dominated by capital raisings where firms like Canaccord and Argonaut excel.
"What we have in our new team are people that actually can bridge both," Mr Allen said, highlighting the team's capability to serve clients across the entire market spectrum, from mid-market gold mergers to large-scale corporate advisory.
Looking ahead, Jarden sees substantial opportunity to expand its business into Western Australia, leveraging its enhanced team to capture more deals in the thriving commodities sector.
