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.