Ken Research - Global Iron Ore Producing Companies | Page 2

countries typically. Crude iron ore implies to ore extracted from the ground that has not been
processed or concentrated to increase its iron content. Usable ore or finished ore refers to ore
that can be used directly in any process. Approximately 98% of the world’s usable iron ore
production is consumed in blast furnaces to make pig iron, which is further processed to
make steel.
Advancements in Iron Ore Mining: It was observed that iron ore production will increase
steadily over the next few years. Majority of the iron ore supplied globally will be
predominantly driven by India. The initial decline in iron ore production in the recent years
has resulted in shut down of the largest iron ore producing mines in India which are Goa,
Orissa and Karnataka; however, these mines were restarted which will boost the production.
The growth in India’s iron ore mining is expected to be supported by the removal of export
taxes for low-grade ores. India’s Mines and Minerals Development and Regulation Act is
assisting in streamlining licensing and reopening the closed mines.
The iron ore prices will remain volatile, and this trend could lead to an increase in the cost of
the metals. It was observed that Asia is emerging as an opportunity rich region along with
China and India. With the increasing population and rising living standards are expected
to continue to drive demand for metals for decades to come. The increasing demands will
lead to the industrialisation and urbanisation which are still developing. Advance
technology evolves opportunities, threats, and climate change policies. Researchers say
that there might be an uncertainty about how the future of the global iron ore mining
market would unfold. Globally many countries are implementing trade-suppressing
policies, geopolitical risks are evident, and many of the major economies are looking
forward for an increasingly unpredictable growth.
Global Major Players and Geographical Operators in Iron Ore Mining: The major
operating iron ore mines globally are in Asia-Pacific (APAC), Europe, Oceania, Middle
East and Africa (MEA), South and Central America (SCA), North America (NA) and
Former Soviet Union (FSU). There are major developments in the iron ore projects in
APAC, Europe, FSU, MEA, NA, Oceania, and SCA. The leading companies in global iron
ore mining are Vale S.A., Rio Tinto Plc , Anglo American plc , and BHP Billiton Ltd.
Way Forward for Global Iron Ore Mining: It was observed that the global iron ore mining
industry will witness Australia as the second largest global producer of iron ore after China,
although China’s production will decline over the next few years. China’s iron ore sector will
experience more iron ore mine closures due to low iron ore prices, high production costs and
low grade ores. The iron ore mining on a global scale will grow at a steady rate. Majority of
the mines in Brazil and India are restarted and expanded to boost the production of iron and
steel.
To know more, click on the link below:
https://www.kenresearch.com/metal-mining-and-chemicals/metals--minerals/global-iron-ore-
mining-to-2021-demand-from-asian/142687-101.html
Check out similar reports
Iron Ore Mining in Brazil to 2021-Production Remains Buoyant Supported by New Projects
Iron Ore Mining in Ukraine to 2020