The Global Magnesite Mining Landscape: Which Nations Dominate Production in 2024?

Magnesite stands as a critical industrial mineral driving global manufacturing ecosystems. This oxide material serves multiple essential functions—from acting as a refractory material in steel plants to functioning as a key component in fertilizers and chemical synthesis. The worldwide magnesite market was valued at approximately US$12.37 billion in 2023, with forecasts suggesting growth to US$14.9 billion by 2028, fueled by accelerating demand across construction, chemicals, metallurgy, and automotive sectors.

According to the US Geological Survey, the planet holds roughly 7.7 billion metric tons of magnesite reserves. Last year’s global production reached 22 million MT, maintaining near-identical levels with 2022 output. While reserves concentrate heavily in specific regions, actual production capacity remains distributed across a broader geographic footprint.

The Production Powerhouse: China’s Undisputed Lead

China’s dominance in magnesite mines output is almost unprecedented. The nation produced approximately 13 million MT in 2023, capturing nearly 60% of worldwide production. This output level remained relatively flat compared to 2022, yet the country maintains its commanding position as both the world’s largest producer and consumer—accounting for roughly 65% of total global magnesite consumption.

China’s significance extends beyond domestic use. The country functions as the principal supplier to international markets, with exports flowing to India, the US, and numerous other nations. Notably, Indian demand surged in 2023, with magnesite shipments increasing 9% as Indian infrastructure projects boosted steel fabrication requirements. However, China’s expansion faces headwinds from stringent environmental policies, which have forced the closure of several major mining operations in recent years.

Secondary Producers: Turkey and Beyond

Turkey emerges as the second-largest magnesite-producing nation, generating 1.8 million MT annually—a marginal decline of 20,000 MT from 2022 figures. This represents a significant contraction from Turkey’s 2017 output of 2.7 million MT. The country maintains a storied tradition in magnesite extraction, with operations geared toward both export markets and domestic refractory production. Akdeniz Mineral Resources, operating as a joint venture with private entity Grecian Magnesite, represents one of the region’s premier producers and exporters of caustic calcined magnesite products.

Brazil ranks third with 1.7 million MT of annual production, demonstrating stability in recent years. The sector witnessed a transformational moment in 2017 when Austria’s RHI merged with Brazilian firm Magnesita Refratários, establishing RHI Magnesita as the world’s largest refractory materials manufacturer. This consolidated entity reportedly controls the largest magnesite reserves outside of China’s territory.

Russia’s Paradox: Reserves vs. Production

Russia presents an intriguing counterpoint—possessing the world’s most abundant magnesite reserves at 2.3 billion MT, yet generating only 950,000 MT annually. Production has declined substantially from 1.5 million MT in 2020, reflecting geopolitical and operational challenges. Magnezit Group, a major Russian player, actively pursues capacity expansion initiatives at its Kirgiteiskoye and Talskoye mining deposits through facility renovation and new construction projects.

Australia’s Volatile Trajectory

Australia’s magnesite mining profile demonstrates remarkable volatility. The nation peaked at 2.7 million MT in 2021 before contracting to 860,000 MT in both 2022 and 2023. Queensland Magnesia dominates Australian production, with QMAG Pty Ltd—part of the Refratechnik group—operating the Kunwarara deposit, recognized among the world’s most substantial magnesite mines. Junior explorer Lachlan Star pursues development of the Princhester project in the same region, representing emerging opportunities in the Australian magnesite sector.

Mid-Tier Producers Sustaining Market Supply

Austria maintains consistent production at approximately 810,000 MT annually, fluctuating marginally within the 760,000–810,000 MT range. Styromag, the nation’s principal producer, operates five distinct mining facilities, extracting roughly 120,000 MT yearly. Strategic industry consolidation has accelerated, with Austrian magnesia companies acquiring substantial Chinese refractory operations to strengthen regional positioning in East Asia.

Spain’s output has surged dramatically, climbing from relatively modest levels in 2016 to 670,000 MT by 2022. Magnesitas Navarras, Spain’s flagship producer, secured government authorization in early 2024 to operate a new extraction site in the Erdiz region, with concessions spanning 25 years of operational rights.

Slovakia rounds out the European contributors with 510,000 MT in 2023, marginally lower than its 2022 output. SLOVMAG, the principal Slovakian operator, is majority-controlled by Russian conglomerate Magnezit Group and concentrates on ore extraction and sintered magnesia refractory manufacturing.

Emerging and Supporting Producers

Greece produces 380,000 MT annually from mines concentrated on the Chalkidiki peninsula in Northern Greece. Grecian Magnesite, a major European magnesia producer, operates processing facilities across Spain, Turkey, and the Netherlands. The company’s Turkish subsidiary planned construction of a new rotary kiln facility during 2024, anticipated to double caustic-calcined magnesia capacity to approximately 50,000 tons per year.

Saudi Arabia completes the top-ten ranking with 340,000 MT of 2023 production, surpassing Iran for tenth-position status. Ma’aden Industrial Minerals Company operates the Al Ghazalah high-grade magnesite mine, producing caustic calcined variants for regional and international distribution.

Market Outlook and Supply Chain Implications

The global magnesite mining sector faces simultaneous pressures of rising demand and production constraints. Environmental regulations tightening in major producing regions threaten supply continuity, while consolidation patterns suggest structural shifts toward larger, integrated operations. Companies pursuing magnesium mines development increasingly emphasize operational efficiency and environmental compliance to navigate evolving market conditions. Supply-chain dynamics indicate sustained premium positioning for high-quality, responsibly-sourced magnesite through the coming years.