Zinc output set to recover this year, says GlobalData

17th September 2021 By: Marleny Arnoldi - Deputy Editor Online

Data and analytics company GlobalData says zinc production is set to recover by about 5.2% this year, reaching 12.8-million tonnes, from a 5.9% decline in 2020, to 12.1-million tonnes.

Looking at production over 2021 to 2025, the company forecasts a compound annual growth rate of 2.1% and for zinc output to reach 13.9-million tonnes in 2025.

Mining analyst Vinneth Bajaj says Bolivia’s zinc sector was badly affected by Covid-19 in 2020, but production is starting to recover and mines are reopening.

Similarly, mines in Peru are reopening and are expected to produce 1.5-million tonnes of zinc this year – an increase of 9.4% on 2020’s production.

However, many regions still expect declines in yearly zinc output, including Canada at -5.8% and Brazil at -19.2%, mainly owing to scheduled mine closures and planned maintenance shutdowns.

GlobalData says the US, India, Australia and Mexico will be key contributors to zinc production growth in the 2021 to 2025 period. Production from these countries alone is anticipated to reach 4.2-million tonnes in 2025.

Moreover, the company highlights that new projects are being developed in Brazil, Russia and Canada, which will all start contributing to global output by 2023.