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Lithium and Other Non-Metallic Mineral Mining in Australia - Industry Market Research Report

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    Report

  • 41 Pages
  • April 2024
  • Region: Australia
  • IBISWorld
  • ID: 5546877

Fully charged: Growing lithium prices and demand are boosting revenue for mining companies

Spodumene concentrate (lithium ore) has become by far the dominant product in the Lithium and Other Non-Metallic Mineral Mining industry over the five years through 2023-24. Spodumene concentrate is still mainly exported to China for further processing, but major mining firms have started to use it domestically to refine lithium hydroxide. Spodumene concentrate output has increased over the past five years, particularly over the three years through 2023-24. While production is growing strongly, surging demand is behind the largely price-driven growth, as strong demand from the Chinese electric vehicle market and lithium stockpiling is prompting a spike in world prices. This surge in prices led to a 147.6% and 125.5% revenue surges in 2021-22 and 2022-23 respectively. Profit margins also soared to extreme levels. Prices started to normalise in 2022-23, and are expected to plummet by 32.1% in 2023-24, to reach an estimated $13.4 billion. Overall, revenue is anticipated to grow by 38.1% over the five years through 2023-24. Industry firms harvest lithium ore and salt, and mine or quarry non-metallic and related minerals such as diamonds, phosphate rock, silica, gypsum, magnesite, talc and lithium minerals. Industry firms also carry out some basic processing functions. This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry key players and their market shares.

Table of Contents

ABOUT THIS INDUSTRY
  • Industry Definition
  • Main Activities
  • Similar Industries
  • Additional Resources
INDUSTRY AT A GLANCE
INDUSTRY PERFORMANCE
  • Executive Summary
  • Key External Drivers
  • Current Performance
  • Industry Outlook
  • Industry Life Cycle
PRODUCTS & MARKETS
  • Supply Chain
  • Products & Services
  • Demand Determinants
  • Major Markets
  • International Trade
  • Business Locations
COMPETITIVE LANDSCAPE
  • Market Share Concentration
  • Key Success Factors
  • Cost Structure Benchmarks
  • Basis of Competition
  • Barriers to Entry
  • Industry Globalization
MAJOR COMPANIES
OPERATING CONDITIONS
  • Capital Intensity
  • Technology & Systems
  • Revenue Volatility
  • Regulation & Policy
  • Industry Assistance
KEY STATISTICS
  • Industry Data
  • Annual Change
  • Key Ratios
JARGON & GLOSSARY

Companies Mentioned (Partial List)

A selection of companies mentioned in this report includes, but is not limited to:

  • Windfield Holdings Pty Ltd
  • Mineral Resources Limited
  • Pilbara Minerals Limited
  • Allkem Limited

Methodology

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