According to GlobalData, Russia is the world’s fifth-largest producer of iron ore, with output of 94Mt in 2022, down by 16.3% on 2021. Over the five years to 2021, production from Russia increased by a CAGR of 1% and is expected to rise by a CAGR of 4% 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.
Russia accounts for 4% of global production, with the other largest producers being Australia (38%), Brazil (18%), India (10%) and China (10%). Exports of iron ore from Russia declined by 23.48% to 19Mt in 2022 over 2021, with the highest share being exported to China. Russia’s iron ore exports are expected to grow at a CAGR of 7% between 2022 and 2026, to 26Mt by 2026.
Leading producers of iron ore in Russia are Severstal and Evraz. Severstal's output was 18.13Mt in 2021, up by 0.67% on 2020. Evraz produced 14.40Mt, an increase of 1% on the previous year.
For more detailed analysis of global iron ore mining, buy the report here.
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GlobalData, the leading provider of industry intelligence, provided the underlying data, research, and analysis used to produce this article.
GlobalData’s Commodity Analyzer tracks production, consumption, imports and exports of 17 key commodities across 60 countries, whilst its Mines & Projects Database tracks over 30,000 mines and projects with 200+ data fields for each, including production, operating costs, equipment and key mine-site contacts.
