Global iron-ore production to recover this year, says GlobalData
Global iron-ore production decreased by 3% to 2.2-billion tonnes in 2020; and global production is expected to grow at a compound annual growth rate (CAGR) of 3.7% between 2021 to 2025 to 2.66-billion tonnes, says data and analytics company GlobalData.
The key contributors to this growth will be Brazil (6.2%), South Africa (4.1%), Australia (3.2%) and India (2.9%).
Key upcoming projects expected to start operations include South Flank, in Australia, and Serrote Da Laje, in Brazil, this year, and Gudai-Darri, in Australia, in 2022.
“Declines from Brazil and India were major contributors to the reduced output in 2020. Combined production from these two countries fell from a collective 638.2-million tonnes in 2019 to an estimated 591.1-million tonnes in 2020.
“The reduced output from iron-ore giant Vale was the key factor behind Brazil’s reduced output, while delays in the auctioning of mines in Odisha affected India’s output in 2020,” says GlobalData associate project manager Vinneth Bajaj.
He notes that miners in Australia were relatively unaffected by Covid-19 owing to effective measures adopted by the government, while a speedy recovery in China led to a significant 10.4% increase in the country’s iron-ore output in 2020.
Looking ahead, global iron-ore production is expected to increase by 111.3-million tonnes to 2.3-billion tonnes this year.
Rio Tinto is expected to produce up to 340-million tonnes of iron-ore, while BHP has released production guidance of 245-million to 255-million tonnes. Other companies are expected to produce more than 600-million tonnes of iron-ore.
Comments
Announcements
What's On
Subscribe to improve your user experience...
Option 1 (equivalent of R125 a month):
Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format
Option 2 (equivalent of R375 a month):
All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors
including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.
Already a subscriber?
Forgotten your password?
Receive weekly copy of Creamer Media's Engineering News & Mining Weekly magazine (print copy for those in South Africa and e-magazine for those outside of South Africa)
➕
Recieve daily email newsletters
➕
Access to full search results
➕
Access archive of magazine back copies
➕
Access to Projects in Progress
➕
Access to ONE Research Report of your choice in PDF format
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation