According to GlobalData, Australia is the world’s largest producer of iron ore, with output of 932Mt in 2022, up by 1% on 2021. Over the five years to 2021, production from Australia increased by a CAGR of 1% and is expected to rise by a CAGR of 3% between 2022 and 2026. GlobalData uses proprietary data and analytics to provide a complete picture of this market in its Australia Iron Ore Mining to 2026 report. Buy the report here.
Australia accounts for 38% of global production, with the other largest producers being Brazil (18%), India (10%), China (10%) and Russia (4%). Exports of iron ore from Australia increased by 1% to 886Mt in 2022 over 2021, with the highest share being exported to China. Australia’s iron ore exports are expected to grow at a CAGR of 3% between 2022 and 2026, to 1,013Mt by 2026.
Leading producers of iron ore in Australia are Rio Tinto, BHP, Fortescue Metals Group, Mitsui and Mineral Resources. Rio Tinto's output was 263.04Mt in 2021, down by 3% on 2020. BHP produced 245.36Mt, an increase of 0.11%, and output from Fortescue Metals Group was 244.20Mt, an increase of 18% on the previous year.
For more detailed analysis of iron ore in Australia, buy the report here.