Iron ore exports leading countries global

Updated on: 13/08/2022

Iron ore is one of Australia’s highest exported products to the global market. Exports have always been high due to the country’s ample iron ore reserves, and advanced iron ore mining industry, facilitated by the growing consumption of iron ore in the production of steel across developing countries. Australia has been well-acknowledged as the leader in the global iron ore market when it comes to iron ore production and exports. As the global demand for iron ore remains high, business opportunities in the Australian iron ore market are expected to flourish further in the near future.

Australian Iron Ore Industry Overview

Due to the fact that iron ore is used almost exclusively for steel making, but with no major steel production in Australia, the iron ore industry in Australia was established as an export-orientated sector with around 85–90% of iron ore production exported. Since 2010, Australia has overtaken Brazil and India to become the world’s largest world’s largest exporter of iron ore. It was also when iron ore surpassed metallurgical coal and become Australia’s most valuable exported products.

Iron ore exports leading countries global

Today, Australia is still the largest iron ore producer and exporter in the world, accounting for 37% of global production and 52% of global iron ore exports. According to the recent report from Report Buyer , Australia has also the largest iron ore reserves in the world, with 52 billion tonnes of iron ore reserve as of January 2017, accounting for 30.1% of the world’s total.

The Pilbara region is the number one iron ore producing region in Australia, accounting for over 90% of Australia’s iron ore production annually. Other major iron ore mining operations also exist at Koolyanobbing, Cockatoo Island, Tallering Peak, Koolanooka, Jack Hills, and Koolan Island in Western Australia, the Middleback Ranges in South Australia, Frances Creek in the Northern Territory, and Savage River in Tasmania. Meanwhile, some of the leading iron ore suppliers in Australia include Rio Tinto, BHP Billiton and Fortescue Metals Group etc.

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