Global zinc production set to recover 5.2% in 2021 following ~6% decline

Zinc mines are recovering from the impacts of COVID-19, according to GlobalData, with production expected to recover by 5.2% in 2021 to reach 12.8 million tonnes (Mt). The leading data and analytics company notes that production declined by approximately 5.9% to 12.1Mt in 2020, mainly due to COVID-19 related lockdowns and restrictions; however, looking ahead, zinc production over the forecast period (2021–2025) is expected to grow at a compound annual growth rate (CAGR) of 2.1% to reach 13.9Mt in 2025.

Vinneth Bajaj, Mining Analyst at GlobalData, comments: “Bolivia’s zinc was particularly affected by the pandemic in 2020, but production is now expected to recover. Mines in the region such as the Colquiri, Cerro Rico and San Cristobal sites are now reopening. Similarly, the re-opening of Peru’s Chungar Mining Unit, and El Porvenir and Cerro Lindo mines is expected to increase production in the country by 9.4%, to reach 1.5Mt in 2021.

“However, production is not recovering in all regions, as declines are expected in Canada (-5.8%) and Brazil (-19.2%) - mainly due to scheduled zinc mine closures and planned maintenance shutdowns.

“The US, India, Australia and Mexico will be the key contributors to zinc production growth in 2021-2025. Combined production in these countries is expected to increase from a forecasted 3.6Mt in 2021 to 4.2Mt in 2025.”

Source: Global Data, Photo: Fotolia