Battery Material Mining in Australia - Market Research Report (2014-2029)

Fully Charged: Demand for New Battery Materials, Such as Vanadium, Will Power Revenue Growth

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.

Battery material mining revenue has soared, as battery manufacturers have sought to lock in supply to meet surging demand. Rising demand for electric vehicles has led global automakers to offer a growing range of electric vehicles, particularly in China. The supply of battery materials has become increasingly tight, driving demand for Australian battery material exports. Overall, industry revenue has grown at an annualised 55.9% over the past five years, to $16.9 billion. This includes a rise of 198.6% in 2022-23, as lithium export prices skyrocket.

Industry companies primarily mine the ores required for battery manufacturing. These ores include lithium, cobalt, and other elements. The mining of commodities that are primarily used for products other than batteries, like nickel, copper, and zinc, is not included in the industry.