Metals and Mining - Lithium
With a global market value of USD 8.3 billion as of 2023, lithium is considered “white gold” for the ongoing clean energy transition due to its usage in rechargeable batteries for electric vehicles and electronic devices. Driven by increased demand from the energy transition, global lithium production is expected grow by CAGR of 13.9% to 512.9 kilotons by 2030 with Australia and Argentina as major contributors to this growth. China, on the other hand, controls over 55% of the global processing of battery-grade lithium which upon processing is shipped overseas to make battery components. In December 2023, lithium carbonate prices dipped below CNY 100’000 per ton—its lowest since August 2021.
Metals and Mining - Uranium
All nuclear fission reactors depend on one primary raw material: uranium. In 2022, the global uranium market size reached USD 2.7 billion, expected to grow at a CAGR of 3.68% until 2028 when it will reach USD 3.4 billion. With primary applicability across nuclear power plants, military, industry, and medicine, uranium traded at a spot price of around USD 53 per pound in September 2023—a 29.92% increase from a year ago. Currently, Kazakhstan, Canada, and Namibia supply over two-thirds of the world’s uranium, each accounting for 43%, 15%, and 11%, respectively.
Metals and Mining - Coal
As of 2022, coal provided 26.7% of the global primary energy supply, reaching a new record of 8.3 billion tons in consumption. With an annual growth of 14.5% from 2018-2023, the global coal market boasted a revenue of USD 2 trillion in 2022. The Asia Pacific region remains the largest consumers of coal with China and India accounting for almost 70% of the global share. Due to the ongoing energy transition, global coal mining revenue is expected to decrease at a CAGR of 4.1% to USD 1.6 trillion by 2028, with profit estimated to drop to 12.1%.
Metals and Mining - Copper
Witnessing robust growth driven by the ongoing energy transition, the global copper market boasts a revenue of USD 291.1 billion as of 2021. With versatile applicability across electronics, manufacturing, and infrastructure, copper has the highest electrical conductivity of all non-precious metals, making it one of the most essential metals in our current world. This massive industry is projected to grow at a CAGR of 4.9% from 2022 to 2030. Leading the world in copper production is Chile with 5.6 million tons (28% of global total mined production) in 2021, while the Asia-Pacific region dominates around 67% of the global copper market.