Major lead growth in 2024 is driven by major mines

Global lead production reached 4,590.7 ktôns in 2024, an increase of 2.8% from 2023, with Australia, Mexico, Russia and India contributing to 27.8% of the global total. Australia and India were key contributors driven by ramp-ups of projects such as the Australian Abra Base Metal Mine and the Sindesar, Zawar and Razipra Dariba mines in India. Mexican production was boosted by higher performance at the Penasquite mine in Newmont, but there was a four-month labor dispute at the beginning of the year, while the start of the Russian Ozerneu mine was added to growth.

In 2025, lead production will offset the decline in Australia and Peru as mines are expected to close. The world’s largest major production in China will increase by 2.1% in 2025, but long-term growth will be slower, with CAGR from 0.5% to less capacity additions from 2030 to 2030.

Meanwhile, Australia’s lead production skyrocketed 11.4% in 2024, reaching 502.5 ktøns driven by projects such as ABRA base metal and higher grades at the Cunnington mine at South32. However, growth has been mitigated by declines in production from mines that are scheduled to close, such as Potosi/Silver Peak (2025) and Rasp (2026), where reserves are depleted. Additionally, the arrangement of tailings of the century under care and maintenance following the local fires in October 2024 had further impact
production. A future decline in Australian production is expected, with a CAGR of -1.3% by 2030, with mainly planned mine closures.

In contrast, North American countries, including the US, Canada and Mexico, experience growth, with production rising 29% between 2024 and 2030, driven by new projects such as Hermosa (2027), LaCalla das Caen and Pine Point (2029).

Over the forecast period (2025-2030), global lead production growth is relatively flat at 0.03%, affected by the mine closure, but is expected to be offset by new projects such as Bunker Hill, Tarahamza and Kolani.

“Growth of Global Lead Production Promoted by Major Mines in 2024” was originally created and published Mining Technologya brand owned by GlobalData.

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