Iron Ore Industry Australia
Pilbara iron ore powering Australia's economy
Iron ore is Australia's single largest commodity export and is forecast to earn Australia around A$700 billion over the six years to 2025-26. Iron ore supports 45,600 direct Australian jobs and is a major employer of Indigenous Australians. In Western Australia, iron ore royalties alone topped $5 billion in the six months to 31 December 2020.
Iron Ore and Its Significant Influence on Australia's Economy
China stands as the primary consumer of Australia's iron ore. In 2022 China bought 1.1 million tonnes of iron ore, 65 per cent of which came from Australia. iii. The driving force powering this demand was the urbanisation and industrialisation of China. China actually produces more iron ore than Australia but it is at a much lower grade.
Iron ore mining in Australia: an outlook to 2030
Western Australia accounts for the majority of Australia's total iron ore production, with 98.9% of iron ore production coming from the state. GlobalData, in its latest report on iron ore in Australia, estimates production to have remained flat in 2023, with just 0.3% year-on-year (YoY) growth rate, and forecasts an increase by 3.1% in 2024.
Evolving landscape: the future of Australia's iron ore industry
Australia maintained its iron ore production at around 945 million tonnes (mt) in 2023, with a 3.1% increase projected for 2024, GlobalData reports.By 2030, production is expected to reach 1.22 billion tonnes (bt), driven by various upcoming projects and expansions, including the Onslow project (2024), the Jimblebar Expansion project (2024) and the Western …
New high for iron ore a boost for Australia's resources sector
"Iron ore remains our single largest commodity export and it is forecast to earn Australia around A$700 billion from this financial year to 2025-26. Iron ore supports 45,600 direct Australian jobs. Iron ore spot prices have surged to as high a US$194.5 per tonne, beating the previous high of US$187 from February 2011."
Resources and energy quarterly: March 2024
Global industrial production and manufacturing activity recovered in late 2023 and early 2024, because of improving global goods demand. ... Lower prices projected over the outlook period will lower Australia's iron ore export earnings in real terms. Earnings are predicted to fall from $136 billion in 2023–24 to $107 billion in 2024–25 ...
Iron Ore | Today's Spot Price & Charts
Australia is the world's largest iron ore exporter (and 2nd largest producer) accounting for around a third of global production. Western Australia holds just over 90% of Australia's identified iron ore resources and has a reputation for …
Iron ore mining in Australia
Australia has held its position as the world's leading iron ore producer and exporter for many years. Prices for iron ore are largely influenced by global demand for the raw material,...
Australia iron ore export markets 2023
Leading markets for iron ore exports from Australia in 2023 (in billion Australian dollars) [Graph], Department of Industry, Science, Energy and Resources (Australia), September 30, 2024. [Online].
Australia: leading iron ore mining companies by …
Market Index, Leading iron ore mining companies listed on the Australian Securities Exchange (ASX) in Australia as of September 19, 2024, by market capitalization (in billion Australian dollars ...
Latest statistics release
The iron ore industry had sales valued at $142 billion, the third highest level for a single calendar or financial year, supported by higher prices and record levels of production of 866 million tonnes (Mt). ... Australian dollar prices were further boosted by a weaker Australian dollar achieving an average of around $180 per tonne, up from ...
Mining industry in Australia
Australia's mining industry is a pillar of the Australian economy, with the country being one of the world's largest exporters of coal, iron ore, bauxite, alumina, and many other resources.
Iron Ore
Iron Ore decreased 30.08 USD/MT or 22.06% since the beginning of 2024, according to trading on a contract for difference (CFD) that tracks the benchmark market for this commodity. Iron Ore - values, historical data, forecasts and news - updated on December of 2024.
Australia faces growing green iron competition from overseas
It also highlighted that, in a scenario where the steel technology transition is accelerated, Western Australia's iron ore industry would be "in a precarious position assuming no change to the current product mix". Australia faces a distinct disadvantage due to the quality of its hematite iron ore compared with other nations. DRI-based ...
Iron ore: the bigger picture
Australia's iron ore industry has capitalised on a decade of unprecedented volume and price growth to create a market position stronger after the commodities boom than it was before. As a result, the industry is likely to contribute in excess of A$600 billion to the economy over the next decade, more than over the decade from 2005 to 2014. ...
Australia's high-grade iron ore in the Pilbara …
Iron ore in Australia's high quality deposits in the Pilbara formed 1.4 to 1.1 billion years ago, according to new study. ... Industrial Relations and Safety spokesperson said the study provided ...
Evolving landscape: the future of Australia's iron ore industry
Australia maintained its iron ore production at around 945 million tonnes (mt) in 2023, with a 3.1% increase projected for 2024, GlobalData reports.
Iron ore in Australia and the world: Resources, production
Given that the iron ore sector has shown boom-bust cycles in the past, it is important to assess in detail the current state of Australia's iron ore industry, especially in comparison to global trends and issues, with a view to ensuring the maximum long-term benefit for and from Australia's mining sector.
Green steel: synergies between the Australian iron ore industry …
Overall, this study highlights the opportunities and challenges facing the Australian iron ore industry in contributing to the decarbonization of the global steel sector, underscoring the crucial role of government support in driving the growth and development of the green steel industry.", keywords = "Energy system modelling, Green hydrogen ...
Australia: employment in metal ore mining industry 2023
Iron ore mining in Australia Mining industry in Australia Metal mining industry in Australia Critical minerals in Australia Lithium in Australia. Access all statistics starting from $2,388 USD ...
Green steel: Synergies between the Australian iron ore industry …
The Australian state with the second-highest concentration of iron ore deposits is South Australia. Most of its iron ore deposits are located on the Eyre Peninsula on the southern coast, bordered by the Great Australian Bight. The locations of significant iron ore deposits and their magnitudes are shown as circles in Fig. 1 [32].
Iron Ore and Its Significant Influence on Australia's …
Currently, three major companies dominate iron ore mining in Australia – BHP, Rio Tinto, and Fortescue Minerals. Considered blue chip stocks, they are often favourites with investors and their share price performance is linked to iron ore …
WESTERN AUSTRALIA IRON ORE PROFILE – March 2024
Western Australia's iron ore industry employment1. 1 Direct employment. Full-time equivalent (average on site). Source: WA Department of Mines, Industry Regulation and Safety, Resource Data Files (Bi-Annual). • Direct full-time equivalent employment in Western Australia's iron ore industry rose 2.5% (1,478) to 61,203 in 2022-23.
It's time Australia made a long-term iron ore plan
The latest REQ report forecasts iron ore at US$77/tonne in 2026 (down from US$105-US$110 now). Macquarie Bank sees iron ore prices down to the US$70s or even US$60s before the end of the decade. Commonwealth …
Australia risks losing its iron ore dominance, Fortescue CEO …
Australia risks losing its dominant position in the global iron ore market if it does not move swiftly to produce green iron, and would do well to learn lessons from the near wipe-out of its ...
WESTERN AUSTRALIA IRON ORE PROFILE – May 2024
• The iron ore industry is a large part of Western Australia's economy, accounting for an estimated 28% of the State's nominal gross state product in 2022-23. • In 2023, iron ore accounted for 51% of the value of Western Australia's exports of goods. • The value of Western Australia's iron ore sales rose 9% to
Top five iron ore mining companies of Australia profiled
With 30% of the world's estimated 170 billion tonnes in its backyard, iron ore forms a central pillar of the mining industry in Australia.. Most of the country's iron ore is located in Western Australia, which stood second in terms of global iron ore production, with three of the top five iron ore mining companies hailing from this state. The top two hail from Melbourne.
Iron ore
Western Australia Our Western Australia Iron Ore (WAIO) business contains 5 mines in the Pilbara region. With 5 mines, 4 processing hubs and 2 port facilities, our Pilbara iron ore business is all connected by more than 1,000 kilometres of rail infrastructure.
Rocks that Shape Australia
Iron Ore and Foreign Policy As a basic industrial raw material, iron ore has been an important part of Australian foreign policy. In 1938, with the threat of war growing in Europe and Asia, Australia placed a ban on all iron ore exports. Australia eased export restrictions in 1960 as demand for iron ore grew. The export ban was lifted entirely ...
Steeling ourselves: How Australia can support the …
3 May 2022 10 min read. More than ninety per cent of Australia's current iron ore exports are mined from the deep red weathered Pilbara landscape in Western Australia - and over 70 per cent of this material is shipped to China, where it is …
Introduction: overview of the global iron ore industry
The iron ore export industry in Australia began with the lifting of the export embargo in December 1960 (O'Leary, 1993) followed by the discovery and development of large iron ore resources in the Pilbara region of Western Australia, which currently accounts for over 95% of Australia's iron ore production (see Figure 1.16). This required ...