Gold and Other Non-Ferrous Metal Processing in Australia - Market Research Report (2013-2028)
Melbourne, Australia
Last Updated: August 2023
ANZSIC C2139Revenue
$52.9bn
Past 5-Year Growth
Profit
$XXX.Xm
Employees
3,120
Businesses
77
Wages
$XXX.Xm
Gold and Other Non-Ferrous Metal Processing in Australia industry analysis
Refined gold volumes are anticipated to total 283.5 tonnes in 2023-24, down from 293.0 tonnes in 2018-19. Despite strong gold demand, refining volumes dropped off as production was hamstrung by border closures and restrictions.Surging gold prices and lithium hydroxide production have outweighed reduced refined gold volumes, leading to strong revenue growth. Industry revenue is anticipated to increase at an annualised 18.1% over the five years through 2023-24, to total $52.9 billion. Much of this surge was in 2022-23, due to the rapid expansion of lithium hydroxide processing. Growth is expected to drop to 2.7% in 2023-24, as gold prices ease and lithium refining capacity slows down.Higher gold refining competition and excess global capacity have both contributed to falling profit margins in recent years. Gold Corporation's regulatory issues, which see the company facing significant money-laundering fines and a potential buyback of almost $9.0 billion of gold from the Shanghai Gold Exchange, are likely to open the door for Pallion Group to further pursue market share expansion in the coming years.Rising lithium refining volumes are expected to contribute to future growth. It is likely that multiple firms will establish or expand their lithium refining capacity, including Mineral Resources, which is looking to double the capacity of its Kemerton lithium hydroxide refinery in the coming years. Ongoing inflationary pressures and economic uncertainty will likely continue to support gold demand, with 6.2% revenue growth forecast over the five years to 2028-29, reaching $71.4 billion.
Trends and Insights
- The COVID-19 pandemic and strong inflation have led to gold prices and minted gold demand to surge. Investors turn to gold as a safe-haven investment during periods of high inflation and uncertainty.
- Demand for minted products outside the industry has increased domestic sales. An increasing share of gold refined by the industry is used in further manufacturing processes domestically, to produce coins and minted bars.
- Western Australia's mining dominance means it is over-represented in terms of enterprise numbers. WA accounts for the majority of gold mined in Australia, and is the only state to mine lithium.
- Competition in the industry is rising as Pallion Group continues to build market share. Gold Corporation's traditional stranglehold on gold refining is weakening, creating greater pricing pressure in the industry.
Industry Overview
Market size and recent performance (2013-2028)
Industry revenue has grown at a CAGR of 18.1 % over the past five years, to reach an estimated $52.9bn in 2023.
Trends and Insights
The COVID-19 pandemic and economic uncertainty are contributing to surging gold prices
- Higher gold prices and relatively high refined gold production volumes are continuing to positively impact the Gold and Other Non-Ferrous Metal Processing industry.
- Additional trends and insights available with purchase
Source: IBISWorld
Industry outlook (2024-2029)
Market size is projected to grow over the next five years.
Trends and Insights
Lithium hydroxide refining will likely be a major driver of industry revenue growth
- Lithium hydroxide refiners are envisaged to significantly expand output in the near future. Despite a dip in 2024-25, as gold and lithium prices ease, industry revenue is anticipated to improve as new lithium refineries come online.
Biggest companies in the Gold and Other Non-Ferrous Metal Processing in Australia
| Company | Market Share (%)
2024 | Revenue ($m)
2024 |
|---|---|---|
The Perth Mint | 26,300.0 | |
Pallion | 8,781.4 | |
Mineral Resources | 1,904.4 |
To view the market share and analysis for all 4 top companies in this industry, view purchase options.
Products & Services Segmentation
Source: IBISWorld
Industry revenue is measured across several distinct product and services lines, including Gold processing, Lithium hydroxide refining and Nickel processing. Gold processing is the largest segment of the Gold and Other Non-Ferrous Metal Processing in Australia.
Trends and Insights
Gold processing has been boosted by prices but has lost ground to lithium
- Domestically and foreign-sourced gold processing accounts for the largest share of industry revenue. Gold is refined to produce gold doré bars or final pure gold.
- More insights available in the full report
Widen you competitive advantage with related industries
Competitors
- Basic Inorganic Chemical Manufacturing in Australia
- Copper, Silver, Lead and Zinc Smelting and Refining in Australia
Complementors
- Gold Ore Mining in Australia
- Non-Ferrous Metal Casting in Australia
International industries
- Nonferrous Metal Refining in the US
- Copper, Zinc & Lead Refining in Canada
- Precious Metals Production in the UK
- Lead, Zinc & Tin Production in the UK
- Other Non-Ferrous Metal Production in the UK
Table of Contents
About this industry
Industry definition
The Gold and Other Non-Ferrous Metal Processing industry mainly processes semi-refined gold and spodumene concentrate (lithium). Mining firms supply the industry with semi-refined gold and gold doré where they are further processed into refined gold. Lithium processors are vertically-integrated into lithium mining operations and act as a value-added function before export. Some industry firms also smelt, refine and manufacture other non-ferrous metals like silicon and titanium.
What's included in this industry?
Gold processingLithium hydroxide refiningNickel processingOther non-ferrous metal processingCompanies
The Perth MintPallionMineral ResourcesPurchase this report to view all 4 major companies in this industry.
Related Terms
NICKEL MATTEGOLD DORÉ BARSNON-FERROUS METALBENEFICIATIONPRIMARY GOLDSECONDARY GOLDIndustry Code
ANZSIC 2139 - Gold and Other Non-Ferrous Metal Processing in Australia
Performance
Get an indication of the industry's health through historical, current and forward-looking trends in the performance indicators that make or break businesses.
Analyst insights
The COVID-19 pandemic and strong inflation have led to gold prices and minted gold demand to surge. Investors turn to gold as a safe-haven investment during periods of high i...
In this chapter (4)
- Current Performance
- Outlook
- Volatility
- Life Cycle
Key metrics
- Annual Revenue, Recent Growth, Forecast, Revenue Volatility
- Number of Employees, Recent Growth, Forecast, Employees per Business, Revenue per Employee
- Number of Businesses, Recent Growth, Forecast, Employees per Business, Revenue per Business
- Total Profit, Profit Margin, Profit per Business
Charts
- Revenue, including historical (2013-2022) and forecast (2023-2028)
- Employees, including historical (2013-2022) and forecast (2023-2028)
- Businesses, including historical (2013-2022) and forecast (2023-2028)
- Profit, including historical (2013-2023)
- Industry Volatility vs. Revenue Growth
- Industry Life Cycle
Detailed analysis
- Trends in supply, demand and current events that are driving current industry performance
- Expected trends, economic factors and ongoing events that drive the industry's outlook
- Key success factors for businesses to overcome volatility
- How contribution to GDP, industry saturation, innovation, consolidation, and technology and systems influence the industry's life cycle phase.
Products and Markets
Learn about an industry's products and services, markets and trends in international trade.
Analyst insight
Demand for minted products outside the industry has increased domestic sales. An increasing share of gold refined by the industry is used in further manufacturing processes d...
In this chapter
- Products & Services
- Major Markets
- International Trade
Key metrics
- Largest market segment and value in 2023
- Product innovation level
- Total imports, level and trend
- Total exports, level and trend
- Trade Balance
Charts
- Products & services segmentation in 2023
- Major market segmentation in 2023
- International trade, including imports by country and exports by country
Detailed analysis
- Trends impacting the recent performance of the industry's various segments
- Innovations in the industry's product or service offering, specialization or delivery method
- Key factors that successful businesses consider in their offerings
- Buying segments and key trends influencing demand for industry products and services
- Recent trends in import and export volumes, country of origin or destination, and expected future trends
Geographic Breakdown
Discover where business activity is most concentrated in an industry and the factors driving these trends to find opportunities and conduct regional benchmarking.
Analyst insights
Western Australia's mining dominance means it is over-represented in terms of enterprise numbers. WA accounts for the majority of gold mined in Australia, and is the only sta...
In this chapter (1)
- Business Locations
Charts
- Share of revenue, establishment, wages and employment in each region
- Share of population compared to establishments in each region in 2023
Tables
- Number and share of establishments in each region in 2023
- Number and share of revenue each region accounts for in 2023
- Number and share of wages each region accounts for in 2023
- Number and share of employees in each region in 2023
Detailed analysis
- Geographic spread of the industry across Asia Pacific, and trends associated with changes in the business landscape
- Key success factors for businesses to use location to their advantage
Competitive Forces
Get data and insights on what's driving competition in an industry and the challenges industry operators and new entrants may face, with analysis built around Porter's Five Forces framework.
Analyst insights
Competition in the industry is rising as Pallion Group continues to build market share. Gold Corporation's traditional stranglehold on gold refining is weakening, creating gr...
In this chapter (4)
- Concentration
- Barriers to Entry
- Substitutes
- Buyer & Supplier Analysis
Key metrics
- Industry concentration level
- Industry competition level and trend
- Barriers to entry level and trend
- Substitutes level and trend
- Buyer power level and trend
- Supplier power level and trend
Charts
- Market share concentration among the top 4 suppliers from 2018-2023
- Supply chain including upstream supplying industries and downstream buying industries, flow chart
Detailed analysis
- Factors impacting the industry’s level of concentration, such as business distribution, new entrants, or merger and acquisition activity.
- Key success factors for businesses to manage the competitive environment of the industry.
- Challenges that potential industry entrants face such as legal, start-up costs, differentiation, labor/capital intensity and capital expenses.
- Key success factors for potential entrants to overcome barriers to entry.
- Competitive threats from potential substitutes for the industry’s own products and services.
- Key success factors for how successful businesses can compete with substitutes.
- Advantages that buyers have to keep favorable purchasing conditions.
- Advantages that suppliers have to maintain favorable selling conditions.
- Key success factors for how businesses can navigate buyer and supplier power.
Companies
Learn about the performance of the top companies in the industry.
Analyst insights
Lithium hydroxide processors are expanding rapidly, increasing their market share. Lithium miners have started to vertically integrate their operations, building lithium refi...
In this chapter
- Market Share Concentration
- Companies
- Company Spotlights
Charts
- Industry market share by company in 2019 through 2023
- Major companies in the industry, including market share, revenue, profit and profit margin in 2023
- Overview of The Perth Mint's performance by revenue, market share and profit margin from 2017 through 2023
- Overview of Pallion's performance by revenue, market share and profit margin from 2017 through 2023
- Overview of Mineral Resources's performance by revenue, market share and profit margin from 2017 through 2023
- Overview of revenue, market share and profit margin trend for one additional company
Detailed analysis
- Description and key data for The Perth Mint, and factors influencing its performance in the industry
- Description and key data for Pallion, and factors influencing its performance in the industry
- Description and key data for Mineral Resources, and factors influencing its performance in the industry
- Description, key data and performance trends for one additional company
External Environment
Understand the demographic, economic and regulatory factors that shape how businesses in an industry perform.
Analyst insights
Industry revenue volatility has been driven by surging mineral prices and entry of lithium hydroxide processors. Soaring gold, nickel and lithium prices, and the entrance of ...
In this chapter
- External Drivers
- Regulation & Policy
- Assistance
Key metrics
- Regulation & policy level and trend
- Assistance level and trend
Charts
- Regulation & Policy historical data and forecast (2013-2028)
- Assistance historical data and forecast (2013-2028)
Detailed analysis
- Demographic and macroeconomic factors influencing the industry, including Regulation & Policy and Assistance
- Major types of regulations, regulatory bodies, industry standards or specific regulations impacting requirements for industry operators
- Key governmental and non-governmental groups or policies that may provide some relief for industry operators.
Financial Benchmarks
View average costs for industry operators and compare financial data against an industry's financial benchmarks over time.
Analyst insights
Strong growth in mineral prices has seen purchase costs increase as a share of industry revenue. Gold, nickel and lithium prices have all soared in recent years, leading to r...
In this chapter
- Cost Structure
- Financial Ratios
- Key Ratios
Key metrics
- Profit margin, and how it compares to the sector-wide margin
- Average wages, and how it compares to the sector-wide average wage
- Largest cost component as a percentage of revenue
- Industry average ratios for days' receivables, industry coverage and debt-to-net-worth ratio
Charts
- Average industry operating costs as a share of revenue, including purchases, wages, depreciation, utilities, rent, other costs and profit in 2023
- Average sector operating costs as a share of revenue, including purchases, wages, depreciation, utilities, rent, other costs and profit in 2023
- Investment vs. share of economy
Data tables
- Cash Flow & Debt Service Ratios (2013-2028)
- Revenue per Employee (2013-2028)
- Revenue per Enterprise (2013-2028)
- Employees per Establishment (2013-2028)
- Employees per Enterprise (2013-2028)
- Average Wage (2013-2028)
- Wages/Revenue (2013-2028)
- Establishments per Enterprise (2013-2028)
- IVA/Revenue (2013-2028)
- Imports/Demand (2013-2028)
- Exports/Revenue (2013-2028)
Detailed analysis
- Trends in the cost component for industry operators and their impact on industry costs and profitability
Key Statistics
Industry Data
Data Tables
Including values and annual change:
- Revenue (2013-2028)
- IVA (2013-2028)
- Establishments (2013-2028)
- Enterprises (2013-2028)
- Employment (2013-2028)
- Exports (2013-2028)
- Imports (2013-2028)
- Wages (2013-2028)
Methodology
How are IBISWorld reports created?
IBISWorld has been a leading provider of trusted industry research for over 50 years to the most successful companies worldwide. With offices in Australia, the United States, the United Kingdom, Germany and China, we are proud to have local teams of analysts that conduct research, data analysis and forecasting to produce data-driven industry reports.
Our analysts start with official, verified and publicly available sources of data to build the most accurate picture of each industry. Analysts then leverage their expertise and knowledge of the local markets to synthesize trends into digestible content for IBISWorld readers. Finally, each report is reviewed by one of IBISWorld’s editors, who provide quality assurance to ensure accuracy and readability.
IBISWorld relies on human-verified data and human-written analysis to compile each standard industry report. We do not use generative AI tools to write insights, although members can choose to leverage AI-based tools within the platform to generate additional analysis formats.
What data sources do IBISWorld analysts use?
Each industry report incorporates data and research from government databases, industry-specific sources, industry contacts, and our own proprietary database of statistics and analysis to provide balanced, independent and accurate insights.
Key data sources in Australia include:
- Australian Bureau of Statistics
- Australian Taxation Office
- Australian Securities & Investments Commission
Analysts also use industry specific sources to complement catch-all sources, although their perspective may focus on a particular organization or representative body, rather than a clear overview of all industry operations. However, when balanced against other perspectives, industry-specific sources provide insights into industry trends.
These sources include:
- Industry and trade associations
- Industry federations or regulators
- Major industry players annual or quarterly filings
Finally, IBISWorld’s global data scientists maintain a proprietary database of macroeconomic and demand drivers, which our analysts use to help inform industry data and trends. They also maintain a database of statistics and analysis on thousands of industries, which has been built over our more than 50-year history and offers comprehensive insights into long-term trends.
How does IBISWorld forecast its data?
IBISWorld’s analysts and data scientists use the sources above to create forecasts for our proprietary datasets and industry statistics. Depending on the dataset, they may use regression analysis, multivariate analysis, time-series analysis or exponential smoothing techniques to project future data for the industry or driver. Additionally, analysts will leverage their local knowledge of industry operating and regulatory conditions to impart their best judgment on the forecast model.
IBISWorld prides itself on being a trusted, independent source of data, with over 50 years of experience building and maintaining rich datasets and forecasting tools. We are proud to be the keystone source of industry information for thousands of companies across the world.
Learn more about our methodology and data sourcing on the Help Center.
Frequently Asked Questions
Unlock comprehensive answers and precise data upon purchase. View purchase options.
What is the market size of the Gold and Other Non-Ferrous Metal Processing industry in Australia in 2024?
The market size of the Gold and Other Non-Ferrous Metal Processing industry in Australia is $52.9bn in 2024.
How many businesses are there in the Gold and Other Non-Ferrous Metal Processing in Australia industry in 2023?
There are 77 businesses in the Gold and Other Non-Ferrous Metal Processing industry in Australia, which has grown at a CAGR of 1.6 % between 2018 and 2023.
Has the Gold and Other Non-Ferrous Metal Processing industry in Australia grown or declined over the past 5 years?
The market size of the Gold and Other Non-Ferrous Metal Processing industry in Australia has been growing at a CAGR of 18.1 % between 2018 and 2023.
What is the forecast growth of the Gold and Other Non-Ferrous Metal Processing industry in Australia over the next 5 years?
Over the next five years, the Gold and Other Non-Ferrous Metal Processing industry in Australia is expected to grow.
What are the biggest companies in the Gold and Other Non-Ferrous Metal Processing market in Australia?
The biggest companies operating in the Gold and Other Non-Ferrous Metal Processing market in Australia are The Perth Mint, Pallion and Mineral Resources
What does the Gold and Other Non-Ferrous Metal Processing in Australia include?
Gold processing and Lithium hydroxide refining are part of the Gold and Other Non-Ferrous Metal Processing industry.
Which companies have the highest market share in the Gold and Other Non-Ferrous Metal Processing in Australia?
The company holding the most market share in Australia is The Perth Mint.
How competitive is the Gold and Other Non-Ferrous Metal Processing industry in Australia?
The level of competition is low and steady in the Gold and Other Non-Ferrous Metal Processing industry in Australia.
