IRON ORE

Iron Ore

​

Iron ore is a mineral substance which, when heated in the presence of a reluctant, will yield metallic iron (Fe).   It almost always consists of iron oxides, the primary forms of which are magnetite (Fe3O4) and hematite (Fe2O3).

​

Iron ore is the source of primary iron for the world's iron and steel industries. It is therefore essential for the production of steel, which in turn is essential to maintain a strong industrial base.  Almost all (98%) iron ore is used in steel making.  Iron ore is mined in about 50 countries.   The seven largest of these producing countries account for about three-quarters of total world production.   Australia, India and Brazil together dominate the world's iron ore exports, each having about one-third of total exports.

​

​

Over the last ten years, Indian’s iron ore export volumes have increased by more than 200 per cent.

​

China is the world’s largest steel producer and a key export market for the Indian iron ore industry. It accounts for around 60 per cent of Indian’s iron ore exports (by volume)

​

Iron ore has always been an important commodity. Steel is a key resource for building infrastructure, high density housing and manufacturing equipment, which is why it is widely used by industrializing economies.

India has been exporting iron ore for over 25 years.

​

The rapid growth in China’s economy in the 21st century has also created significant growth in demand for iron ore.

​

​

Indian miners, who are the most productive and innovative in the world, have played a key role in supplying this market with high-grade iron ore.

​

As the economies of highly populated countries in Asia continue to grow, steel and iron ore will be in high demand. Just as we have seen with China over the past 20 years, the economic growth in India and South-East Asia will require increasing amounts of steel. 

​

China will also remain a key producer and consumer of steel with its One Belt, One Road initiative requiring significant investment in steel-intensive infrastructure projects both in China and around the region.

India is well positioned to be a key supplier of iron ore to these markets, as our miners are low-cost, reliable producers of high grade iron ore.