Australia
In terms of iron ore production by nation in 2022, Australia leads the pack. It is the world’s top producer of iron ore. Approximately 37.6% of global manufacturing is produced in the country. It yielded an astounding 900 million metric tonnes of iron ore in 2020. Brazil, its nearest competitor, is matched twice. Australia possesses the world’s greatest deposits of crude iron ore, estimated to be around 48 billion tonnes. The main export from the nation is iron ore, which is primarily sold to China, Japan, South Korea, Taiwan, and Vietnam.
Brazil
The second-largest producer of iron ore is Brazil. The country in Latin America generated an incredible 400 million metric tonnes of iron ore in 2020. Brazil accounts for 16.7% of global production. The principal markets for Brazilian iron ore are China, the US, India, and Malaysia. Brazil’s state of Para produces around 190 tonnes of iron ore annually, with the state of Minas Gerais coming in second. Brazil’s largest iron miner is Vale, a mining firm with its headquarters in Rio de Janeiro.
China
China is a leading producer of iron ore as well as a significant importer of the commodity. This is due to the fact that it uses more iron ore than any other nation. To meet its needs in the steel industry and other related sectors, China imports iron ore from foreign nations in addition to its own. In 2020, the nation in Asia produced 340 million tonnes of iron ore, or 14.2% of the global output. Its reserves of crude oil are close to 20 billion tonnes. China’s Inner Mongolia, Shanxi, Liaoning, and Hebei are among the regions with abundant iron ore.
India
India is the fourth-largest producer of iron ore in the world and the second-largest producer in Asia. It contributes 9.6% of the world’s total iron ore production, or 200 million metric tonnes, annually. Despite using iron ore in its steel mills, India exports its resources to South Korea and Japan. In these nations, Posco and Japanese Steel Mills are its two main clients. India’s three largest iron ore miners are Hindustan Zinc, Vedanta, and National Mineral Development Corporation.
Russia
Russia brings the total amount of iron ore produced by a country to 90 million metric tonnes annually in 2022. It is Europe’s largest producer of iron. Given its vast iron ore reserves, which are believed to hold 25 billion metric tonnes, the country is projected to enhance its production of iron ore. Russia is one of the top exporters of iron, mostly to China, Ukraine, Germany, Slovakia, and Turkey as its main destinations.
