British Geological Survey releases global mineral production figures
The latest mineral production statistics for 2019-23 show changes in mineral importance to the energy sector.
Over 70 mineral commodities have been captured in the newly published volume of World Mineral Production by the British Geological Survey (BGS).
During 2023, volatility in areas such as the Middle East, Ukraine, South America and central Africa, led to a general decrease in mineral output from these regions.
China’s role in supplying minerals needed for the energy transition and energy infrastructure grew. This supply includes graphite, refined gallium and germanium. China provides more than 70% global supply of these materials.
The country also imposed export restrictions on the trade of refined gallium and germanium in response to export restrictions from Europe on the trade of technology used to manufacture semiconductors, alongside export restrictions on certain graphite products.
China also cited national security concerns in the context of increasing US controls.
Globally, several commodities experienced a significant decrease in their production volume, such as:
- Chinese tungsten, which decreased by about 18% and has contributed to the overall global decrease in tungsten output of about 15%. Growing concerns about tungsten supply have led several other countries to increase investment in the tungsten sector.
- Mercury production decreased by 45%.
Global production of lithium, nickel and cobalt continued to increase during 2023 because of their importance in the manufacture of lithium-ion batteries and energy storage systems:
- Lithium saw the greatest increase in 2023, with a 30% rise on 2022 production.
- Cobalt production increased significantly in 2023 by almost 23%.
- Nickel production increased by 47% with increases in output from Indonesia
