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 t.
The data and analytics company notes that production declined by approximately 5.9% to 12.1 million t in 2020, mainly due to COVID-19 related lockdowns and restrictions. However, looking ahead, the company suggests that zinc production over the forecast period (2021 – 2025) is expected to grow at a compound annual growth rate (CAGR) of 2.1% to reach 13.9 million t 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 1.5 million t 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 3.6 million t in 2021 to 4.2 million t in 2025.”
Read the article online at: https://www.globalminingreview.com/mining/17092021/global-zinc-production-set-to-recover-in-2021/