Industry Trend Analysis - Lead To Benefit As By-Product In Latin America - MAY 2016

BMI View : Mexico and Peru's mine lead production growth will outperform the US and Canada, due to lower production costs and strong project pipelines.

Mexico and Peru will drive lead production growth in the Americas, supported by competitive operating costs and strong project pipelines. Meanwhile, lead output in the US and Canada will continue to decline, as the weak price environment weighs on producers in relatively higher operating cost countries. We forecast Mexico and Peru's lead production growth to average 3.0% and 1.2%, respectively, during 2016-2020. In comparison, we expect the US and Canada to average 1.8% and 3.8% annual contractions, respectively, during the same period. The US will remain a top 10 global lead producer, while mine closures in Canada will result in the country falling out of the top 10 producers list.

Lead Closures In North America, New Projects In The South

Latin America Lead To Catch Up
Select Countries - Lead Mine Production ('000 tonnes)
e/f = BMI estimate/forecast. Source: BMI, USGS

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