According to GlobalData, Canada is the world’s sixth-largest producer of iron ore, with output of 63Mt in 2022, up by 8% on 2021. Over the five years to 2021, production from Canada increased by a CAGR of 4% and is expected to rise by a CAGR of 8% between 2022 and 2026. GlobalData uses proprietary data and analytics to provide a complete picture of this market in its Global Iron Ore Mining to 2026 report. Buy the report here.
Canada accounts for 3% of global production, with the other largest producers being Australia (38%), Brazil (18%), India (10%) and China (10%). Exports of iron ore from Canada increased by 7% to 57Mt in 2022 over 2021, with the highest share being exported to China. Canada’s iron ore exports are expected to grow at a CAGR of 7% between 2022 and 2026, to 74Mt by 2026.
Leading producers of iron ore in Canada are ArcelorMittal and Rio Tinto. ArcelorMittal's output was 21.79Mt in 2021, down by 12% on 2020. Rio Tinto produced 13.52Mt, a decrease of 3% on the previous year.
For more detailed analysis of global iron ore mining, buy the report here.