Commodities - Iron Ore is Directly Connected to Steel

Brazil

Brazil is the world’s 10th largest producer of iron ore, having produced 85 million tonnes in 2017. The country is the 6th largest exporter of iron ore worldwide. Brazil’s main iron ore-producing region is the Carajas region in the northern part of the country near the border with the state of Amazonas. Most of the iron ore mined in Brazil is high-quality “direct shipping ore” (DSO) which is used in the production of steel in countries that lack their iron ore resources such as Japan, Korea, and China. China’s steel industry is powered primarily by Brazilian iron ore. The two countries are the world’s two largest iron ore producers and exporters. China is Brazil’s largest customer, importing nearly 40% of Brazil’s annual iron ore production.

Canada

Canada is the world’s 9th largest producer of iron ore, having produced 74 million tonnes in 2017. The country is the world’s second-largest exporter of iron ore after Brazil. Canada’s mining industry is dominated by two companies: the Canadian mining company Teck and the Brazilian mining company Vale. The two companies account for approximately 60% of the country’s iron ore production. Vale is the world’s largest iron ore producer. It owns the world’s largest iron ore mine, the Carajas mine in Brazil, which produced a record high of 243 million tonnes in 2017. Teck is the third largest iron ore producer in the world, trailing behind Vale by only 2%.

China

China is the world’s 8th largest producer of iron ore, having produced 64 million tonnes in 2017. The country has the largest iron ore-producing capacity in the world, amounting to 1 billion tonnes annually. China’s iron ore-producing regions are the Shandong peninsula, the Guangxi Zhuang Autonomous Region, and the Hebei Province. China’s iron ore industry is dominated by state-owned companies that produce and export iron ore. The Chinese government has taken measures to ensure that the country’s iron ore industry thrives and that Chinese companies can meet domestic requirements as well as export and supply the global market.

Colombia

Colombia is the world’s 7th largest producer of iron ore, having produced 63 million tonnes in 2017. The country mines and exports iron ore from the Colombian department of Santander. The region’s mines are operated by the Colombian mining company Carbocol. The Colombian department of Santander covers an area of approximately 13,500 square kilometers in the northern part of the country. The region is rich in iron ore, which has made it an ideal location for mining in Colombia.

India

India is the world’s 6th largest producer of iron ore, having produced 53 million tonnes in 2017. The country’s main iron ore-producing region is the state of Goa, where most of the country’s iron ore mines are located. The Indian mining company Tata Steel is the largest producer of iron ore in the country. India’s iron ore industry has struggled in recent years due to a variety of factors, including a lack of innovation, difficulty in obtaining raw materials, and issues with the government.

Indonesia

Indonesia is the world’s 5th largest producer of iron ore, having produced 45 million tonnes in 2017. The country’s major iron ore mining regions include the islands of Borneo, Sulawesi, Maluku, New Guinea, and the Badakhshan region in the eastern part of the country. Indonesia’s mining sector has seen a dramatic transformation over the past decade. The country’s main iron ore producers are privately owned companies that have been able to increase iron ore production significantly through capital investment and technological innovation.

Republic of Congo

The Republic of Congo is the world’s 4th largest producer of iron ore, having produced 42 million tonnes in 2017. The country’s main iron ore-producing region is the northern part of the country near the border with the Central African Republic. The Republic of Congo’s iron ore industry is controlled by the state-owned company Gécamines, which is a large-scale producer of iron ore.

Russia

Russia is the world’s 3rd largest producer of iron ore, having produced 41 million tonnes in 2017. The country’s iron ore industry is primarily based in the Siberian Federal District, where the majority of iron ore is extracted from the HVO iron ore field. Iron ore production in Russia increased significantly during the 2010–2015 period, as the country’s largest steel company, Novolipetsk Steel (NLMK), invested heavily in the country’s iron ore industry.

South Africa

South Africa is the world’s 2nd largest producer of iron ore, having produced 40 million tonnes in 2017. The country’s mining sector is dominated by mining companies that are primarily focused on exporting iron ore to Asian countries. Iron ore has been the Republic of Congo’s main source of revenue since the early 2000s. The country’s ore is largely exported to Asia, with China being its largest importer.

United States of America

The United States of America is the world’s 1st largest producer of iron ore, having produced 39 million tonnes in 2017. The country mainly produces iron ore from the state of Minnesota, where the majority of iron ore mining takes place in the form of open pit mining. The United States has been the world’s largest producer of iron ore since 1918. The country’s iron ore industry is controlled by the mining company Minnesota Iron, which is the largest iron ore producer in the United States.

Conclusion

Iron ore is one of the most important raw materials used by the steel industry. It is usually referred to as iron ore, or simply ore, and primarily refers to minerals from which iron can be extracted economically. The world production of iron ores in 2017 was 1 billion tonnes (1.1 billion tons). The top producers were Australia (with an output of 158 million tonnes), Brazil (85 million tonnes), Ukraine (74 million tonnes), and China (64 million tonnes). These are the world’s top 10 iron ore-producing countries: Brazil, Canada, China, Colombia, India, Indonesia, the Republic of Congo, Russia, sued Africa, and the United States of America.