John Williams reports that global zinc reserves were 233.7 million t as of January 2018. The largest share of these was in Australia, with 27.4% of the global total, followed by China and Peru. Between 2019 and 2022, global zinc supply is expected to grow at a CAGR of 3.8%, to 15.7 Mt in 2022 with strong support by increases in production from Australia, Peru, India and the US.
In 2018, although global zinc supply increased by 1.5% to 13.4 Mt, it was still short by 1.1 Mt, of the global demand of 14.5 Mt in that year. Increases in demand from China, Germany, the US, and Belgium were the major factors behind the increase in the global demand. The gap between demand and supply is expected to narrow and eventually the market will move into a surplus in 2022. Up to 100 new projects will be commencing operations between 2019 and 2022 where zinc is either a primary or a secondary commodity being produced. These offset the growth in global output originating from MMG's Dugald River project, the commissioning of Century Resource's New Century mine and the Hellyer tailings project in Australia; as well as a few smaller mines commencing operations across the globe.
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