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Global Zinc Market Trends

Zinc demand is mainly driven by the production of galvanised steel, which is extensively used in numerous sectors from construction, infrastructure, and automobiles to home appliances, machinery, and shipbuilding.

Mining Technology tracks the global zinc market by analysing zinc price trends and country-wise zinc production, consumption, and export and import data. The performance of zinc mining companies and major zinc mines around the world is also monitored.

Global zinc production is recovering after COVID-19 hit the output causing a 5.9% decline to 12.1 million tonnes (Mt) in 2020. Zinc production is expected to reach 13.9Mt in 2025, according to GlobalData’s estimates.

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GlobalData forecasts data for 15 commodities of 60 leading mining countries, with 70 reports per year covering supply & demand, key projects, activities of major mining companies and fiscal regimes.

Zinc Price Trend: Trailing 12 Months

Mining Technology displays the global zinc price trend over the last 12 months.

The price of zinc rose by 9.1% in March, peaking at US$4,260/t at the end of the month.

The price of zinc averaged US$3,974/t in March. Prices have continued to rise since the COVID-19-induced slump in Q1 2020 and are expected to remain high in 2022, averaging over US$3,000/t in the year.

Largest Zinc Mining Companies in the World

Mining Technology has identified the world’s largest zinc mining companies by comparing the annual output of major zinc miners operating in different parts of the globe.

Glencore was the world’s largest zinc producing company in 2020, followed by Vedanta Resources and Teck Resources.

The ten largest zinc mining companies in the world together accounted for 35% of the global total zinc output in 2020.

Current Rank Rank 2019 Company Name Headquarters
1 1 Glencore plc Switzerland
2 2 Vedanta Resources Ltd United Kingdom
3 3 Teck Resources Ltd Canada
4 4 Zijin Mining Group Co Ltd China
5 5 Industrias Penoles SAB de CV Mexico
6 6 Boliden AB Sweden
7 7 China Minmetals Corp China
8 10 Newmont Corp United States
9 8 Volcan Compania Minera SAA Peru
10 9 Lundin Mining Corp Canada

Source: GlobalData

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Top Zinc Producing Countries

The top zinc producing countries are drawn from GlobalData’s comprehensive database capturing the annual production volumes of major zinc mining countries in the world.

The world’s largest zinc mining countries in 2020 included China, Peru and Australia.

The ten top zinc producing countries together accounted for 83% of the global zinc output in 2020.

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Biggest Zinc Mines in the World

GlobalData maintains a database of major zinc mining projects around the world to identify the world’s biggest zinc mines.

With a production of 0.86Mtpa, Ghazaouet Mine in Algeria topped the list of the world’s biggest zinc mines in 2020.

The ten biggest zinc mining operations in the world together accounted for 28% of the global zinc output in 2020.

Mine Name Country State Owner Mine Type & Method Production 2020 (Thousand tonnes)
Ghazaouet Mine Algeria Tlemcen Entreprise Nationale de Metallurgie & de Transformation des Metaux non Ferreux, Spa(100%) To be confirmed & To be confirmed 869.06
Red Dog Mine United States Alaska Teck Resources Ltd(100%) Surface & Open Pit 490.7
Rampura Agucha Mine India Rajasthan Vedanta Resources Ltd(64.92%), Government of India(29.54%), Undisclosed(5.54%) Underground & Long Hole Stoping 369.4
Mount Isa Zinc Mine Australia Queensland Glencore Plc(100%) Surface and Underground & Open Pit/Long Hole Stoping 354.2
McArthur River Mine (Zinc) Australia Northern Territory Glencore Plc(100%) Surface & Open Cut 279.3
Antamina Mine Peru Ancash Glencore Plc(33.75%), BHP(33.75%), Teck Resources Ltd(22.5%), Mitsubishi Corp(10%) Surface & Open Pit 262.11
Bashkirskaya Med Mine Russia Republic of Bashkortostan Ural Mining and Metallurgical Co(100%) Underground & To be confirmed 245.97
Golden Grove Mine Australia Western Australia EMR Capital Group(100%) Underground & Stoping 192.73
San Cristobal Mine Bolivia Potosi Sumitomo Corp(100%) Surface & Open Pit 185.18
Fankou Mine China Guangdong Shenzhen Zhongjin Lingnan Nonfemet Co Ltd(100%) Underground & To be confirmed 181.98

Source: GlobalData

Major Upcoming Zinc Mines

GlobalData lists the major upcoming zinc mines in the world by comparing annual production capacities of upcoming zinc mining projects.

The Ozernoe Mine in Russia is the biggest upcoming zinc mine in the world, with an annual production capacity of 0.35Mt.

The Pickett Mountain Project in the US and the Pavlovskoye Project in Russia are the next major upcoming zinc mines with capacities of 0.27Mt and 0.22Mt, respectively.

Mine Name Country State Owner Mine Type & Method Annual Production Capacity (Thousand tonnes)
Ozernoe Mine Russia Buryatia Metropol Group(100%) Surface & Open Pit 350
Pickett Mountain Project United States Maine Wolfden Resources Corporation(100%) Underground & Long Hole Stoping 272.22
Pavlovskoye Project Russia Arkhangelsk Oblast State Atomic Energy Corporation Rosatom(99.5%), Undisclosed(0.5%) Surface & Open Pit 223
Kipushi Project Democratic Republic of the Congo Katanga Ivanhoe Mines Ltd(68%), Gecamines SA(32%) Underground & Sub Level Stoping 207
Citronen Project Greenland Northeast Greenland National Park Ironbark Zinc Ltd(100%) Surface and Underground & Open Pit/Room and Pillar 185.68
Izok Corridor Project Canada Nunavut China Minmetals Corp(74%), Undisclosed(26%) Surface and Underground & Open Pit 180
Admiral Bay Project Australia Western Australia Metalicity Ltd(80.3%), Undisclosed(19.7%) Underground & Room and Pillar 174
Pine Point Project Canada Northwest Territories Osisko Metals Inc.(100%) Surface and Underground & Open Pit/Long Hole Stoping 148.32
HacKett River Project Canada Nunavut Glencore Plc(100%) Surface and Underground & Open Cut 147.28
Coricancha Expansion Mine Peru Huaral Great Panther Mining Ltd(100%) Underground & Cut and Fill 141.81

Source: GlobalData



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