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Lithium and Other Non-Metallic Mineral Mining in Australia Industry Data and Analysis
Spodumene concentrate (lithium ore) has become by far the dominant product in the industry over recent years. Spodumene concentrate is still mainly exported to China for further processing, but major mining firms have started using it domestically to refine lithium hydroxide. Given lithium's importance for battery manufacturing, many downstream buyers stockpiled lithium, prompting a spike in world prices. Skyrocketing spodumene concentrate prices fuelled revenue and profitability growth over the two years through 2022-23. This historic price surge prompted miners to boost output and capitalise on favourable market conditions, causing a wave of lithium supply to flood the market, which led to an oversupply issue. Due to the supply surge, prices started to normalise during 2023 and have plummeted over the two years through 2024-25.
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What's included in this industry analysis
IBISWorld's research coverage on the Lithium and Other Non-Metallic Mineral Mining industry in Australia includes market sizing, forecasting, data and analysis from 2015-2030. The most recent publication was released May 2025.
About this industry
What's this industry report about?
The Lithium and Other Non-Metallic Mineral Mining industry in Australia operates under the ANZSIC industry code B0990. Industry firms harvest lithium ore and salt, and mine or quarry non-metallic and related minerals like diamonds, phosphate rock, silica, gypsum, magnesite, talc and lithium minerals. Industry firms also carry out some basic processing functions. Related terms covered in the Lithium and Other Non-Metallic Mineral Mining industry in Australia include open-cut mining, salt harvesting, lithium hydroxide and spodumene.
What's included in this industry?
Products and services covered in Lithium and Other Non-Metallic Mineral Mining industry in Australia include Lithium minerals, Other minerals and Salt.
What companies are included in this industry?
Companies covered in the Lithium and Other Non-Metallic Mineral Mining industry in Australia include Windfield Holdings, PLS and Mineral Resources.
Performance
What's included in the Performance chapter?
The Performance chapter covers detailed analysis, datasets, detailed current performance, sources of volatility and an outlook with forecasts for the Lithium and Other Non-Metallic Mineral Mining industry in Australia.
Questions answered in this chapter include what's driving current industry performance, what influences industry volatility, how do successful businesses overcome volatility, what's driving the industry outlook. This analysis is supported with data and statistics on industry revenues, costs, profits, businesses and employees.
Products & Markets
What's included in the Products and Markets chapter?
The Products and Markets chapter covers detailed product and service segmentation, analysis of major markets and international trade data for the for the Lithium and Other Non-Metallic Mineral Mining industry in Australia.
Questions answered in this chapter include how are the industry's products and services performing, what are innovations in industry products and services, what products or services do successful businesses offer and what's influencing demand from the industry's markets. This includes data and statistics on industry revenues by product and service segmentation and major markets.
Geographic Breakdown
What's included in the Geographic Breakdown chapter?
The Geographic Breakdown chapter covers detailed analysis and datasets on regional performance of the Lithium and Other Non-Metallic Mineral Mining industry in Australia.
Questions answered in this chapter include where are industry businesses located and how do businesses use location to their advantage. This includes data and statistics on industry revenues by location.
Competitive Forces
What's included in the Competitive Forces chapter?
The Competitive Forces chapter covers the concentration, barriers to entry and supplier and buyer profiles in the Lithium and Other Non-Metallic Mineral Mining industry in Australia. This includes data and statistics on industry market share concentration, barriers to entry, substitute products and buyer & supplier power.
Questions answered in this chapter include what impacts the industry's market share concentration, how do successful businesses handle concentration, what challenges do potential industry entrants face, how can potential entrants overcome barriers to entry, what are substitutes for industry services, how do successful businesses compete with substitutes and what power do buyers and suppliers have over the industry and how do successful businesses manage buyer & supplier power.
Companies
What's included in the Companies chapter?
The Companies chapter covers Key Takeaways, Market Share and Companies in the Lithium and Other Non-Metallic Mineral Mining industry in Australia. This includes data and analysis on companies operating in the industry that hold a market share greater than 5%.
Questions answered in this chapter include what companies have a meaningful market share and how each company is performing.
External Environment
What's included in the External Environment chapter?
The External Environment chapter covers Key Takeaways, External Drivers, Regulation & Policy and Assistance in the Lithium and Other Non-Metallic Mineral Mining industry in Australia. This includes data and statistics on factors impacting industry revenue such as economic indicators, regulation, policy and assistance programs.
Questions answered in this chapter include what demographic and macroeconomic factors impact the industry, what regulations impact the industry, what assistance is available to this industry.
Financial Benchmarks
What's included in the Financial Benchmarks chapter?
The Financial Benchmarks chapter covers Key Takeaways, Cost Structure, Financial Ratios, Valuation Multiples and Key Ratios in the Lithium and Other Non-Metallic Mineral Mining industry in Australia. This includes financial data and statistics on industry performance including key cost inputs, profitability, key financial ratios and enterprise value multiples.
Questions answered in this chapter include what trends impact industry costs and how financial ratios have changed overtime.
Industry Data
What's included in the Industry Data chapter?
The Industry Data chapter includes 10 years of historical data with 5 years of forecast data covering statistics like revenue, industry value add, establishments, enterprises, employment and wages in the Lithium and Other Non-Metallic Mineral Mining industry in Australia.
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Frequently Asked Questions
What is the market size of the Lithium and Other Non-Metallic Mineral Mining industry in Australia in 2026?
The market size of the Lithium and Other Non-Metallic Mineral Mining industry in Australia is $5.4bn in 2026.
How many businesses are there in the Lithium and Other Non-Metallic Mineral Mining industry in Australia in 2025?
There are 170 businesses in the Lithium and Other Non-Metallic Mineral Mining industry in Australia, which has declined at a CAGR of 0.0 % between 2020 and 2025.
How may import tariffs affect the Lithium and Other Non-Metallic Mineral Mining industry in Australia?
The Lithium and Other Non-Metallic Mineral Mining industry in Australia is likely to be impacted by import tariffs with imports accounting for a moderate share of industry revenue.
How may export tariffs affect the Lithium and Other Non-Metallic Mineral Mining industry in Australia?
The Lithium and Other Non-Metallic Mineral Mining industry in Australia is likely to be significantly impacted by export tariffs with exports accounting for a high share of industry revenue.
Has the Lithium and Other Non-Metallic Mineral Mining industry in Australia grown or declined over the past 5 years?
The market size of the Lithium and Other Non-Metallic Mineral Mining industry in Australia has been growing at a CAGR of 18.1 % between 2020 and 2025.
What is the forecast growth of the Lithium and Other Non-Metallic Mineral Mining industry in Australia over the next 5 years?
Over the next five years, the Lithium and Other Non-Metallic Mineral Mining industry in Australia is expected to decline.
What are the biggest companies in the Lithium and Other Non-Metallic Mineral Mining industry in Australia?
The biggest companies operating in the Lithium and Other Non-Metallic Mineral Mining industry in Australia are Windfield Holdings, PLS and Mineral Resources
What does the Lithium and Other Non-Metallic Mineral Mining industry in Australia include?
Lithium ore and Precious and semi-precious stones are part of the Lithium and Other Non-Metallic Mineral Mining industry in Australia.
Which companies have the highest market share in the Lithium and Other Non-Metallic Mineral Mining industry in Australia?
The company holding the most market share in the Lithium and Other Non-Metallic Mineral Mining industry in Australia is Windfield Holdings.
How competitive is the Lithium and Other Non-Metallic Mineral Mining industry in Australia?
The level of competition is moderate and steady in the Lithium and Other Non-Metallic Mineral Mining industry in Australia.
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