Iron ores are essential minerals in the form of rocks from which metallic iron is extracted. Different types of iron ores are deposited under the earth’s surface, including massive hematite, magnetite, titanomagnetite, and pisolitic ironstone. The ores showcase a wide variety of colours from dark grey, bright yellow, deep purple, or rusty red.
Due to their composition, they are widely used in the automobile and construction industry. In addition, the steel derived from it is deemed valuable in the making of furniture, vehicles, locomotive parts, reinforcing rods, and more. This is why the trade of iron ore has massive advantages for global suppliers.
Leading Supplier Companies Of Iron Ore In The World
Here is a list of the top 5 largest producers of iron ore worldwide based on historical data.
- Vale
Vale is a Brazilan mining company, and in 2020, they were the world’s leading producer of iron ore. Their total output amounted to a whopping 300 million tonnes. The Carajas mine located in northern Brazil is the company’s major mine, one of the biggest iron ore mines worldwide.
Their annual target production is set to increase to 400 million tonnes by 2023. Vale is highly accountable for making Brazil the second-largest country with a huge possession of the largest iron ore reserves. Their global supplier solutions help them in connecting with the top importers across the globe.
- Rio Tinto
Rio Tinto is an Anglo-American company that extracted around 286 million tonnes of iron ore in 2020. This number was 1.7% higher than their production in the previous year. Rio Tinto’s major operation is based in the Pilbara region in Australia.
Australia is known for being the largest iron ore producer, and Pilbara is the largest iron ore reserve in the world. The company also enjoys the majority share of Iron Ore Company (IOC), which produced 10.4 million tonnes of iron ore last year.
Moreover, Rio Tinto is also one of the most prominent global suppliers online, trading with the top importers worldwide.
- BHP
BHP is another popular Australian iron ore mining company. They produced over 248 million tonnes worth of iron ore last year, which accounted for a 3.9% annual rise since their previous production year.
BHP is one of the most persistent iron mining companies, which they proved when they extracted around 128 million tonnes in only the latter half of the year 2020 (from July to December).
The company also provides top global supplier solutions. Similar to Rio Tinto, they too have their major production running in the Pilbara region in Western Australia. In addition, the company also owns the credit of being one of the largest copper mining companies.
- Fortescue Metals Group
Fortescue Metals Group is yet another Australian mining company credited as one of the largest iron ore producers worldwide. In the financial year of 2020, the company made an output of over 204 million tonnes.
Further, in only the first half of 2021, the company has already produced iron ore to 108.4 million tonnes. Unlike the other companies in the industry, Fortescue Metals Group is solely interested in mining iron ore and not any other commodities like natural gas.
Nevertheless, they hold an important position in the list of global suppliers, owing to their long history and connection with international traders. The company is currently focused on broadening its horizons.
They have planned exploration ventures and plans in multiple countries, including parts of Australia, Colombia, Peru, Argentina, Ecuador, and more. Their operation operates in the Chichester and Solomon mining hubs, and they too extract most of their produce from the Pilbara region.
- Anglo American
This company produced somewhere over 61 million tonnes of iron ore in the last year. Anglo American’s main headquarter is located in London, but their major operations run in South Africa as the Kumba project and the Minas-Rio project in Brazil.
Anglo American has a wide reach in the industry and is credited as one of the major global suppliers online. The iron ore produced by them is shipped to China, India, Japan, North and South America, and most of Europe.
Leading Iron Ore Producing Countries In The World
Here is a list of the top 4 iron ore producing countries:
- Australia
Australia holds the first rank in the list of top producers of iron ore. It has multiple iron ore mining companies and operations. In 2020, the country’s iron ore production totalled a whopping 900 million tonnes.
- Brazil
In 2020, Brazil extracted 400 million tonnes of iron ore, making it the second-largest producer of iron ore in the world. Vale’s stronghold in the mining industry has been highly profitable for Brazil.
- China
China produced around 340 million tonnes of iron ore in 2020. Moreover, China has a massive presence in the steelmaking industry.
- India
India’s iron ore production in 2020 was an estimated 230 million tonnes, which accounted for approximately 10% of all global iron ore production. Their expansive mines are located in the states of Jharkhand, Karnataka, Odisha, and Chhattisgarh.
What Is The Future Of The Iron Ore Supply? The production, supply, and utilization of iron ore have one of the largest effects on the world’s economy. Moreover, its usage in the locomotive and construction industries has vast advantages worldwide, which makes it one of the most profitable commerce. Thus, the export or supply of iron ore has huge benefits for the companies invested in producing them from mines.
