New Report on the Global Zinc Mining Market

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Global Zinc Production to Reach 15.7Mt in 2022 to Meet Rising Demand

Global Zinc Production is expected to grow at a compound annual growth rate (CAGR) of 3.8% between 2019 and 2022, to reach 15.7Mt in 2022, according to GlobalData.

The company’s latest report: ‘Global Zinc Mining to 2022’ states that growth will be supported by production expansions and new mines commencing operations across China, Canada, India, Kazakhstan and Mexico.

Vinneth Bajaj, Senior Mining Analyst at GlobalData, comments: “After declining substantially in 2016, global zinc mine production increased in both 2017 and 2018, reaching 13.2Mt and 13.4Mt respectively. However, the market has remained in a severe deficit, impacted by several mine closures and production cuts over price concerns.”

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In 2018 the global production of zinc rose, supported by a 9.9% increase in production from Australia, with an increase in output from MMG’s Dugald River project, the commissioning of Century Resource’s New Century mine and the Hellyer Tailings project in Australia. This was supplemented by an 8.5% increase in production from Peru, 7.9% from India, and 5.9% from the US. However, output was still 1.1Mt short of global demand, which reached 14.5Mt due to increasing demand from China, Germany, the US and Belgium. Production from China, the world’s largest producer of zinc, is estimated to have declined, albeit marginally, by 1%, owing to environmental restrictions.

Bajaj adds:Looking ahead, there are almost 100 zinc projects expected to commence operations between 2019 and 2022, of which around 24 are currently under construction, while the remainder are under various stages of development. Of these projects, around 15 are located in Australia, 11 in Canada, eight in Mexico, six in Peru, five in the US and four each in Kazakhstan, Russia, and China.”

Report Information:
Single User License Price: $2495
Publisher: GlobalData
Report Format: electronic pdf

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New Report on Payments Landscape in Russia

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Domestic Scheme Mir Disrupting Russian Payment Card Market

Russian Payment Card Market evolved at a rapid pace during 2014-18, with the country’s consumers enthusiastically embracing new technologies and increasingly favoring card-based payments for low-value transactions. The introduction of National Payment Scheme ‘Mir’ also provided a much-needed push to overall payment card market growth, says GlobalData.

GlobalData’s latest report, Payments Landscape in Russia: Opportunities and Risks to 2022 states that while international scheme providers Mastercard and Visa continue to dominate the Russian card market, they have experienced a dip in their cumulative market share owing to rising adoption of Mir Cards.

Mir was launched in December 2015 by the Central Bank of Russia.  There were over 40 million Mir debit cards and 1.3 million credit cards in circulation in 2018, issued by over 140 banks. To increase acceptance in international markets, these cards are co-badged with international schemes.

This growth in Mir card adoption has been supported by concentrated government efforts, large-scale card issuance by banks and widespread merchant acceptance. The introduction of benefits in the form of reward programs and cashback will further drive usage among card holders.

Shivani Gupta, Payments Analyst at GlobalData, explains: “Mir payment cards are increasingly preferred by Russian merchants due to their comparatively low acceptance cost. An interchange fee of 0.8% on debit cards and 1.3% on credit cards is charged – which is much lower than Mastercard’s 1.50% on debit cards and 1.55% on credit cards.”

Meanwhile, a federal law – mandating that all public sector employees migrate to Mir cards by July 2018 in order to receive their government welfare benefits into their linked bank accounts – further accelerated its adoption.

Gupta concludes: “The growing adoption of Mir is now posing significant challenges to the international players, thereby disrupting the overall Russia payment card space – especially the debit card market.”

Report Information:
Single User License Price: $2750
Publisher: GlobalData
Report Format: electronic pdf