Consumers know zinc to be an important component of the vitamins and supplements they take, or the sunscreen they use to protect themselves from harmful rays, but this chemical element is also extremely important for coating metal and is widely used in transportation, in the production of electronics, and in the renewable energy sector.
In fact, zinc is the fourth most used metal on Planet Earth, and because it is fully recyclable, it can be used again without losing quality.
Importance of zinc production for the global economy
Experts expect the zinc industry to register impressive growth from US$24 billion in 2024 to US$30 billion in 2032, representing a compound annual growth rate (CAGR) of 5.58%, according to Expert Research Future, particularly in view of rapid urbanization and the growth in infrastructure projects.
By offering very effective protection from corrosion, zinc can significantly extend the lifespan of anything that is made of steel, including various aspects of infrastructure such as bridges and electricity transmission systems, which leads to less frequent repairs.
Around 75% of all extracted zinc is used for:
- Coating that prevents steel and iron corrosion
- Alloying metal to create bronze and brass
- Zinc-based die-casting alloy that is used in electronics, automotive components, and power tools
- Rolled zinc that is used in dry batteries
The remaining 25% of zinc is mainly used in rubber, chemicals, and paint as zinc compounds.
Global zinc production statistics
By 2030, the production of zinc around the world is expected to decrease due to lower production levels in some of the 10 major producing countries such as Peru, China, India, Bolivia, and Kazakhstan.
- After falling by 2.4% in 2022 and 2.1% in 2023, world zinc mine production had been expected to decline by a further 1.4% to 12.06 million tonnes in 2024. In 2025, however, a recovery of 6.6% to 12.86 million tonnes is predicted, mainly influenced by a robust growth of 8.9% throughout the world excluding China, according to the International Lead and Zinc Study Group.
- The five major zinc producers in 2023 accounted for 66.2% of the global total, according to GlobeNewswire.
- Over 377 zinc mines are operating in the world today, according to GlobalData.
Zinc production by country
The latest data from the United States Geological Survey shows that by far the largest zinc producer is China with nearly 4 million metric tons (MMT) mined and produced in 2023 and around 4 MMT estimated for 2024. China is followed by Peru and Australia.
*For Australia, Joint Ore Reserves Committee-compliant or equivalent reserves were 21 million tons.
Source: U.S. Geological Survey
Let’s dive deeper into the three major zinc-producing countries:
China zinc production
Around one-third of all zinc production is undertaken in China which is the leading producer of this element. The major zinc-producing companies in China are the Zijin Mining Group (headquartered in Longyan) and Silvercorp Metals (a Canadian-based, China-focused precious metals company).
There are 38 zinc mines in China.
China’s largest zinc mine: Wulagen Lead-Zinc Mine
This surface mine in Xinjiang Uyghur Autonomous Region is owned by Zijin Mining Group. According to official estimates, in 2023 the mine produced 140,000 tons of zinc and is expected to continue to operate until 2043.
Peru zinc production
With an output of 1.47 MMT in 2023 and an estimated 1.3 MMT in 2024, Peru is the second largest zinc producer, accounting for 12% of global production.
The largest producers of zinc in the country are:
- Volcan Compania Minera SAA (Peruvian mining company)
- Glencore (Anglo-Swiss multinational company)
- Nexa Resources (Luxembourg-based company, with Votorantim SA – a Brazilian conglomerate – being its controlling shareholder)
- BHP (Australian multinational company)
- Teck Resources (Canadian diversified natural resources company)
- Compania De Minas Buenaventura SAA (Peruvian precious metals company)
There are 59 zinc mines in Peru.
Peru’s largest zinc mine: the Antamina Mine
This surface mine in Ancash in Peru bordering the Pacific Ocean is owned by Teck (22.5%), BHP plc and Glencore plc (33.75% each), and the Mitsubishi Corporation (10%).
Based on data from 2023, the mine produces around 464,116 tons of zinc and is expected to operate until 2036.
Australia zinc production
As the third largest nation in terms of zinc production, Australia registered an output of 1.09 MMT in 2023 which is around 10% of global production, with 1.1 MMT estimated for 2024.
The major zinc producers in the country are Glencore, China Minmetals (Chinese state-owned company headquartered in Beijing), and South32 (Australian company headquartered in Perth).
The latest data shows that there are 30 mines in Australia.
Australia’s largest zinc mine: The Mount Isa Zinc Mine
This underground mine in Queensland is owned by Glencore. It is considered to be one of the largest mining complexes globally with output estimated to be 287.2 thousand tons, and it is expected to operate until 2036.
Final word
Zinc production is a US$23 billion industry that is expected to continue to increase as the chemical element is widely used in growing sectors such as transportation, electronics, and renewable energy. China continues to dominate zinc production, followed by Peru and Australia, where both local and foreign companies operate.
