Nearly 93% of the 2.7 billion tones of metals extracted in 2021 were made up of iron ore. The majority of it (98%) is used to create steel, with the remaining 2% going into magnets, automobile components, and catalysts. Below picture shows the Top iron ore producing countries in the world as of 2021-2022 using information from the U.S. Geological Survey. Australia is the top iron ore producing country in the world.
Iron from Carajás and Pilbara :
Ore Iron makes up around 5% of the Earth’s crust and is the fourth most prevalent element in the world after oxygen, silicon, and aluminum.
35% of the iron ore mined last year was generated in Australia. The majority of the country’s identified iron ore resources are found in Western Australia, particularly in the Pilbara region.
The vast, arid region is well-known for both its Aboriginal inhabitants and the red soil that results from iron being exposed to air and water. The three main Pilbara iron ore producers, BHP Group, Rio Tinto Ltd., and Fortescue Metals, are also among the largest mining firms in the world.
Top iron ore producing countries Ranked by Production in Tones :
|Country||2021 Production (Tones)|
Brazil is the world’s second-largest producer after Australia, and iron ore makes almost 80% of its mining exports.
The top producer of iron ore and nickel worldwide is Vale, the largest publicly traded firm in Brazil. The largest iron ore mine in the world, the Carajás mine, is operated by the firm. The mine, which is run as an open-pit mine and is situated in the state of Pará in the country’s north, is thought to contain about 7.2 billion metric tons of iron ore.
Together, Australia and Brazil account for nearly one-third of all iron ore exports and dominate the market.
The largest user of iron ore, which is used to fuel its steel industry, is China.
The Green Economy and Iron Ore :
Steel is a key component in the creation and distribution of energy, hence it is anticipated that demand for iron ore will increase in the upcoming years.
Steel is widely employed in hydroelectric infrastructure, solar and wind energy, and agriculture.
Aside from making ships, trucks, and trains, steel is also utilized to make electric motors, transformers, and generators.
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