GITNUXREPORT 2025

Global Mining Industry Statistics

Global mining industry valued at $1.64 trillion; demand, minerals, and sustainability rise.

Jannik Linder

Co-Founder of Gitnux, specialized in content and tech since 2016.

First published: April 29, 2025

Our Commitment to Accuracy

Rigorous fact-checking • Reputable sources • Regular updatesLearn more

Statistic 1

The top five gold-producing countries in 2022 were China, Australia, Russia, the United States, and Canada, with China leading at 370 tonnes

Statistic 2

The world's largest mining company by revenue in 2022 was Glencore, with revenues exceeding USD 203 billion

Statistic 3

The top five cobalt-producing countries in 2022 were the Democratic Republic of the Congo, Russia, Australia, Philippines, and Cuba, with the DRC leading at 100,000 tonnes

Statistic 4

The world's largest gold reserve is held by Australia, with approximately 10,000 tonnes

Statistic 5

Over 80% of declared global rare earth reserves are found in China, making it a dominant player in the market

Statistic 6

The world's largest iron ore supplier, Vale S.A., had a production of approximately 300 million tonnes in 2022, mainly from Brazil

Statistic 7

The world's largest zinc reserve is located in Iran, with an estimated 4 billion tonnes of zinc ore

Statistic 8

The world's largest supplier of phosphate fertilizer is Morocco, accounting for nearly 70% of global exports

Statistic 9

The world's largest tungsten reserve is in China, with an estimated 2.7 million tonnes of tungsten ore, underpinning its dominance in tungsten supply

Statistic 10

The global coal production was approximately 7.9 billion tonnes in 2022

Statistic 11

Gold mining accounts for about 20% of the world's electricity consumption in the mining sector, emphasizing energy-intensive processes

Statistic 12

The world's largest bitcoin mining operation, which is energy-intensive, is located in China and accounts for over 65% of global hash rate as of 2023

Statistic 13

Approximately 75% of the world's coal is used for electricity generation, with the rest for steelmaking and industrial processes

Statistic 14

The overall energy consumption in the global mining sector was estimated at over 150 exajoules in 2022, emphasizing the importance of sustainable energy sources

Statistic 15

The global mining industry was valued at approximately USD 1.64 trillion in 2022

Statistic 16

The mineral exploration expenditure worldwide reached about USD 12.4 billion in 2022

Statistic 17

Over 60% of the world's iron ore is produced by Australia and Brazil

Statistic 18

The global rare earth element market was valued at USD 3.8 billion in 2022, with a projected CAGR of 9.2% from 2023 to 2030

Statistic 19

The global diamond mine production decreased slightly in 2022 to approximately 134 million carats

Statistic 20

Phosphate rock production globally stood at around 280 million tonnes in 2022, essential for fertilizer manufacturing

Statistic 21

The global uranium production was approximately 53,000 tonnes in 2022, primarily from Kazakhstan, Canada, and Australia

Statistic 22

Mineral royalties and taxes contribute to around 15-20% of overall income for major mining companies, depending on jurisdiction

Statistic 23

The global graphite market was valued at USD 15.2 billion in 2022, driven mainly by demand for batteries and electric vehicles

Statistic 24

The global antimony market was valued at USD 840 million in 2022, used primarily in flame retardants, alloys, and electronics

Statistic 25

The global mining equipment market was valued at USD 132 billion in 2022 and is projected to grow at a CAGR of 5.2% through 2028

Statistic 26

The global nickel market is expected to reach USD 40 billion by 2030, driven by electric vehicle battery requirements

Statistic 27

The annual global mining investment was over USD 100 billion in 2022, reflecting ongoing capital expenditures across the sector

Statistic 28

The global vanadium market was valued at USD 2.4 billion in 2022, supported by its use in high-strength steel production

Statistic 29

The total global consumption of industrial minerals was over USD 200 billion in 2022, with key markets in construction, ceramics, and electronics

Statistic 30

The global demand for lithium is projected to grow at a CAGR of 20% from 2023 to 2030, driven by electric vehicle battery production

Statistic 31

Approximately 65% of rare earth elements are used in electronics and magnets, driving demand for mining these minerals

Statistic 32

The global salt production was estimated at over 320 million tonnes in 2022, mainly for industrial purposes

Statistic 33

Global nickel mine production was around 2.9 million tonnes in 2022, supporting stainless steel and battery manufacturing

Statistic 34

The global lithium ion battery market was valued at USD 102 billion in 2022 and is expected to grow at a CAGR of over 15% through 2030, driven by EV expansion

Statistic 35

The global tungsten market size was valued at USD 470 million in 2022, with applications in aerospace and electronics

Statistic 36

The demand for rare earth elements is expected to double by 2030 due to increased use in clean energy technologies

Statistic 37

The global tantalum market was valued at approximately USD 350 million in 2022, primarily used in electronics

Statistic 38

The global fluorspar market size was valued at USD 1.2 billion in 2022, used in manufacturing fluorochemicals, aluminum, and steel

Statistic 39

About 25% of the world's silicon production is used in the photovoltaic industry for solar panels, which impacts mining for silica sand

Statistic 40

The global cemented tungsten carbide market size was valued at USD 7.5 billion in 2022, driven by industrial tooling and machinery applications

Statistic 41

The global cobalt demand is projected to grow at a CAGR of 7.5% from 2023 to 2030, driven by EV batteries, electronics, and aerospace applications

Statistic 42

The average depth of modern underground mining operations is approximately 1.5 kilometers, with some mines reaching depths over 3 kilometers

Statistic 43

The global silica sand market size was valued at USD 15 billion in 2022, with applications in glassmaking, industrial, and hydraulic fracturing

Statistic 44

The global battery recycling market is expected to expand at a CAGR of 7.8% from 2023 to 2030, to address increasing demand for sustainable resource management

Statistic 45

The global lead production was approximately 4.3 million tonnes in 2022, used mainly in batteries, ammunition, and radiation shielding

Statistic 46

The market for industrial carbon black used in mining tires and rubber compounds was valued at USD 4.5 billion in 2022 and is expected to grow with mining activities

Statistic 47

The global mineral fiber market, used in insulation in mining operations, was valued at USD 9 billion in 2022, with a projected growth driven by construction and industrial applications

Statistic 48

About 40% of the world’s platinum-group metals are used in catalytic converters, vital for reducing vehicle emissions, impacting mining for platinum and palladium

Statistic 49

The global copper scrap market is growing at a CAGR of 5.5% from 2023 to 2030, driven by recycling efforts and demand for sustainable materials

Statistic 50

The global copper mine production was approximately 20 million tonnes in 2022

Statistic 51

The average grade of gold ore worldwide has decreased from 1.5 grams per tonne in 2010 to approximately 1.2 grams per tonne in 2022

Statistic 52

The global zinc mine production was approximately 13.2 million tonnes in 2022, a slight increase from 2021

Statistic 53

Assmang's Black Rock manganese mine in South Africa produced around 5 million tonnes of manganese ore in 2022, making it one of the largest in the world

Statistic 54

Every year, the global extraction of bauxite (aluminum ore) exceeds 370 million tonnes, mainly from Guinea, Australia, and China

Statistic 55

The average lifespan of a copper mine is approximately 20-40 years, depending on deposit size and depth

Statistic 56

The average global cost of copper extraction has been around USD 1.50 per pound in recent years, reflecting varied deposit qualities and technologies

Statistic 57

The average payback period for a new copper mine is approximately 7-10 years, depending on project size and financing

Statistic 58

The average life cycle of a large-scale platinum mine is estimated at around 20-25 years, with some mines operating for over 30 years

Statistic 59

The average cost of open-pit mining ranges between USD 1 and USD 3 per tonne depending on mineral and geographical conditions

Statistic 60

The world's largest gold deposit, the Witwatersrand Basin in South Africa, contains an estimated 30,000 tonnes of gold

Statistic 61

The total global gold mine reserves are estimated at around 54,000 tonnes, primarily concentrated in South Africa, Australia, and Russia

Statistic 62

Mineral processing and beneficiation costs account for approximately 25-30% of total mining industry costs, depending on mineral type and deposit complexity

Statistic 63

The world’s total manganese ore resources are estimated at over 100 billion tonnes, with South Africa, Australia, and China as major producers

Statistic 64

The worldwide production of platinum-group metals (platinum, palladium, rhodium, ruthenium, iridium, osmium) was approximately 9 million ounces in 2022, primarily from South Africa and Russia

Statistic 65

The average lifespan of a large-scale open-pit coal mine is around 20-25 years, depending on deposit size and mining conditions

Slide 1 of 65

Sources

Our Reports have been cited by:

Trust Badges - Publications that have cited our reports

Key Highlights

The global mining industry was valued at approximately USD 1.64 trillion in 2022
The mineral exploration expenditure worldwide reached about USD 12.4 billion in 2022
The top five gold-producing countries in 2022 were China, Australia, Russia, the United States, and Canada, with China leading at 370 tonnes
The global copper mine production was approximately 20 million tonnes in 2022
The world's largest mining company by revenue in 2022 was Glencore, with revenues exceeding USD 203 billion
The global demand for lithium is projected to grow at a CAGR of 20% from 2023 to 2030, driven by electric vehicle battery production
The global coal production was approximately 7.9 billion tonnes in 2022
Over 60% of the world's iron ore is produced by Australia and Brazil
The average grade of gold ore worldwide has decreased from 1.5 grams per tonne in 2010 to approximately 1.2 grams per tonne in 2022
The global rare earth element market was valued at USD 3.8 billion in 2022, with a projected CAGR of 9.2% from 2023 to 2030
The global diamond mine production decreased slightly in 2022 to approximately 134 million carats
Approximately 65% of rare earth elements are used in electronics and magnets, driving demand for mining these minerals
The global salt production was estimated at over 320 million tonnes in 2022, mainly for industrial purposes

The global mining industry, valued at over USD 1.64 trillion in 2022, is soaring with record-breaking expenditures, booming demand for critical minerals like lithium and rare earths, and revolutionary shifts driven by electric vehicles, digital technology, and sustainable practices.

Country and Company Rankings

The top five gold-producing countries in 2022 were China, Australia, Russia, the United States, and Canada, with China leading at 370 tonnes
The world's largest mining company by revenue in 2022 was Glencore, with revenues exceeding USD 203 billion
The top five cobalt-producing countries in 2022 were the Democratic Republic of the Congo, Russia, Australia, Philippines, and Cuba, with the DRC leading at 100,000 tonnes
The world's largest gold reserve is held by Australia, with approximately 10,000 tonnes
Over 80% of declared global rare earth reserves are found in China, making it a dominant player in the market
The world's largest iron ore supplier, Vale S.A., had a production of approximately 300 million tonnes in 2022, mainly from Brazil
The world's largest zinc reserve is located in Iran, with an estimated 4 billion tonnes of zinc ore
The world's largest supplier of phosphate fertilizer is Morocco, accounting for nearly 70% of global exports
The world's largest tungsten reserve is in China, with an estimated 2.7 million tonnes of tungsten ore, underpinning its dominance in tungsten supply

Country and Company Rankings Interpretation

As the global mining industry stakes its claim with China leading in rare earths and tungsten, Australia's gold reserves shine brightly while Glencore's vast revenues underscore the immense economic weight beneath our planet's mineral surface—reminding us that beneath the earth’s crust lies not just riches, but an intricate web of geopolitical dominance and economic gravity.

Energy Consumption and Sustainability

The global coal production was approximately 7.9 billion tonnes in 2022
Gold mining accounts for about 20% of the world's electricity consumption in the mining sector, emphasizing energy-intensive processes
The world's largest bitcoin mining operation, which is energy-intensive, is located in China and accounts for over 65% of global hash rate as of 2023
Approximately 75% of the world's coal is used for electricity generation, with the rest for steelmaking and industrial processes
The overall energy consumption in the global mining sector was estimated at over 150 exajoules in 2022, emphasizing the importance of sustainable energy sources

Energy Consumption and Sustainability Interpretation

With global coal production reaching 7.9 billion tonnes and mining consuming over 150 exajoules of energy—much of it from coal and gold's 20% share of electricity—it's clear that the mining industry is both a major energy hog and a prime candidate for sustainable overhaul, especially with China commanding over 65% of Bitcoin’s energy-intensive hash rate.

Industry Market Size and Valuation

The global mining industry was valued at approximately USD 1.64 trillion in 2022
The mineral exploration expenditure worldwide reached about USD 12.4 billion in 2022
Over 60% of the world's iron ore is produced by Australia and Brazil
The global rare earth element market was valued at USD 3.8 billion in 2022, with a projected CAGR of 9.2% from 2023 to 2030
The global diamond mine production decreased slightly in 2022 to approximately 134 million carats
Phosphate rock production globally stood at around 280 million tonnes in 2022, essential for fertilizer manufacturing
The global uranium production was approximately 53,000 tonnes in 2022, primarily from Kazakhstan, Canada, and Australia
Mineral royalties and taxes contribute to around 15-20% of overall income for major mining companies, depending on jurisdiction
The global graphite market was valued at USD 15.2 billion in 2022, driven mainly by demand for batteries and electric vehicles
The global antimony market was valued at USD 840 million in 2022, used primarily in flame retardants, alloys, and electronics
The global mining equipment market was valued at USD 132 billion in 2022 and is projected to grow at a CAGR of 5.2% through 2028
The global nickel market is expected to reach USD 40 billion by 2030, driven by electric vehicle battery requirements
The annual global mining investment was over USD 100 billion in 2022, reflecting ongoing capital expenditures across the sector
The global vanadium market was valued at USD 2.4 billion in 2022, supported by its use in high-strength steel production
The total global consumption of industrial minerals was over USD 200 billion in 2022, with key markets in construction, ceramics, and electronics

Industry Market Size and Valuation Interpretation

In 2022, the global mining sector, valued at $1.64 trillion with over $12 billion in exploration spending, continued to fuel the world's industries—from Australia's iron ore dominance and soaring battery-demanded graphite to the steady decline in diamond output—highlighting a high-stakes game where resource giants, driven by a 5.2% equipment market growth and rising investments exceeding $100 billion, are meticulously navigating the complex dance of supply, demand, and environmental considerations.

Market Segments and Product Applications

The global demand for lithium is projected to grow at a CAGR of 20% from 2023 to 2030, driven by electric vehicle battery production
Approximately 65% of rare earth elements are used in electronics and magnets, driving demand for mining these minerals
The global salt production was estimated at over 320 million tonnes in 2022, mainly for industrial purposes
Global nickel mine production was around 2.9 million tonnes in 2022, supporting stainless steel and battery manufacturing
The global lithium ion battery market was valued at USD 102 billion in 2022 and is expected to grow at a CAGR of over 15% through 2030, driven by EV expansion
The global tungsten market size was valued at USD 470 million in 2022, with applications in aerospace and electronics
The demand for rare earth elements is expected to double by 2030 due to increased use in clean energy technologies
The global tantalum market was valued at approximately USD 350 million in 2022, primarily used in electronics
The global fluorspar market size was valued at USD 1.2 billion in 2022, used in manufacturing fluorochemicals, aluminum, and steel
About 25% of the world's silicon production is used in the photovoltaic industry for solar panels, which impacts mining for silica sand
The global cemented tungsten carbide market size was valued at USD 7.5 billion in 2022, driven by industrial tooling and machinery applications
The global cobalt demand is projected to grow at a CAGR of 7.5% from 2023 to 2030, driven by EV batteries, electronics, and aerospace applications
The average depth of modern underground mining operations is approximately 1.5 kilometers, with some mines reaching depths over 3 kilometers
The global silica sand market size was valued at USD 15 billion in 2022, with applications in glassmaking, industrial, and hydraulic fracturing
The global battery recycling market is expected to expand at a CAGR of 7.8% from 2023 to 2030, to address increasing demand for sustainable resource management
The global lead production was approximately 4.3 million tonnes in 2022, used mainly in batteries, ammunition, and radiation shielding
The market for industrial carbon black used in mining tires and rubber compounds was valued at USD 4.5 billion in 2022 and is expected to grow with mining activities
The global mineral fiber market, used in insulation in mining operations, was valued at USD 9 billion in 2022, with a projected growth driven by construction and industrial applications
About 40% of the world’s platinum-group metals are used in catalytic converters, vital for reducing vehicle emissions, impacting mining for platinum and palladium
The global copper scrap market is growing at a CAGR of 5.5% from 2023 to 2030, driven by recycling efforts and demand for sustainable materials

Market Segments and Product Applications Interpretation

As the world's appetite for lithium, rare earths, and battery metals surges—fueled by electric vehicles and green technologies—the mining industry is deepening its depths and expanding its markets, revealing that beneath the earth's surface lies not just minerals but the very foundation of our sustainable future.

Mineral Exploration and Production

The global copper mine production was approximately 20 million tonnes in 2022
The average grade of gold ore worldwide has decreased from 1.5 grams per tonne in 2010 to approximately 1.2 grams per tonne in 2022
The global zinc mine production was approximately 13.2 million tonnes in 2022, a slight increase from 2021
Assmang's Black Rock manganese mine in South Africa produced around 5 million tonnes of manganese ore in 2022, making it one of the largest in the world
Every year, the global extraction of bauxite (aluminum ore) exceeds 370 million tonnes, mainly from Guinea, Australia, and China
The average lifespan of a copper mine is approximately 20-40 years, depending on deposit size and depth
The average global cost of copper extraction has been around USD 1.50 per pound in recent years, reflecting varied deposit qualities and technologies
The average payback period for a new copper mine is approximately 7-10 years, depending on project size and financing
The average life cycle of a large-scale platinum mine is estimated at around 20-25 years, with some mines operating for over 30 years
The average cost of open-pit mining ranges between USD 1 and USD 3 per tonne depending on mineral and geographical conditions
The world's largest gold deposit, the Witwatersrand Basin in South Africa, contains an estimated 30,000 tonnes of gold
The total global gold mine reserves are estimated at around 54,000 tonnes, primarily concentrated in South Africa, Australia, and Russia
Mineral processing and beneficiation costs account for approximately 25-30% of total mining industry costs, depending on mineral type and deposit complexity
The world’s total manganese ore resources are estimated at over 100 billion tonnes, with South Africa, Australia, and China as major producers
The worldwide production of platinum-group metals (platinum, palladium, rhodium, ruthenium, iridium, osmium) was approximately 9 million ounces in 2022, primarily from South Africa and Russia
The average lifespan of a large-scale open-pit coal mine is around 20-25 years, depending on deposit size and mining conditions

Mineral Exploration and Production Interpretation

Despite decades of relentless extraction, the global mining industry faces the paradox of declining ore grades and rising costs, reminding us that even underground treasures become harder to unearth without digging deeper into innovation and sustainability.