Australia Iron Ore Mining Market by Reserves, Production, Assets, Projects, Fiscal Regime with Taxes, Royalties and Forecast to 2030

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Australia Iron Ore Mining Market Report Overview

The total iron ore production in Australia was 944.1Mt in 2022, and it is expected to grow at a CAGR of more than 3% during 2022-2030. The growth is attributed to the richness of mineral resources of Australia, making the country the world’s largest iron ore producer. Other factors that are boosting the country’s iron ore production are the commencement of new projects – the Onslow project and Jimblebar Expansion project and the high output from projects such as Iron Bridge (North Star Magnetite).

Australia Iron Ore Mining Market Outlook, 2022-2030 (%)

Australia Iron Ore Mining Market Outlook, 2022-2030 (%)

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The Australia Iron Ore Mining Market research report comprehensively covers key demand-driving factors shaping the industry. The report provides detailed information on reserves, reserves by country, production, and competitive landscape. Furthermore, it elucidates major operating mines, exploration, and operating as well as planned development projects. These critical topics will help identify gaps in operations and make high-impact business strategies.

Total Production (2022) 944.1Mt
CAGR (2022-2030) >3%
Active Mines ·        Sino Iron Ore Mine

·        Mt Newman Joint Venture

·        Area C Mine

·        Jimblebar Hub

·        Kings Valley Mine

Development Projects ·        Central Eyre Iron Project

·        Razorback Premium Iron Project

·        West Pilbara Iron Ore Project

·        Onslow Project

·        Western Range Mine

Exploration Projects ·        Rhodes Ridge Project

·        Jimmawurrada Mine

·        Prairie Downs Project

·        Caliwingina Project

·        Mount Bevan Project

Leading Companies ·        Rio Tinto

·        BHP

·        Fortescue Metals Group (FMG)

·        Mineral Resources Ltd (MRL)

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Australia Iron Ore Mining Market - Active Mines

A few of the active iron ore mines in Australia are Sino Iron Ore Mine, Mt Newman Joint Venture, Area C Mine, Jimblebar Hub, and Kings Valley Mine among others. Sino Iron Ore Mine is the largest iron ore reserve in the country, followed by Mt Newman Joint Venture.

Australia Iron Ore Mining Market Analysis by Active Mines, 2023 (%)

Australia Iron Ore Mining Market Analysis by Active Mines, 2023 (%)

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Australia Iron Ore Mining Market - Development Projects

Central Eyre Iron Project had the highest iron ore reserve in 2023

A few of the Australian iron ore mining development projects are the Central Eyre Iron Project, Razorback Premium Iron Project, West Pilbara Iron Ore Project, Onslow Project, and Western Range Mine among others. Central Eyre Iron Project was followed by the Razorback Premium Iron Project in 2023.

Onslow project, Western Australia: Mineral Resources’ Onslow project is one of the largest under-construction iron ore development projects in Western Australia. It has an annual saleable iron ore production capacity of more than 34kt and is set to commence operations in June 2024. It has an expected mine life of more than 30 years.

Australia Iron Ore Mining Market Analysis by Development Projects, 2023 (%)

Australia Iron Ore Mining Market Analysis by Development Projects, 2023 (%)

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Australia Iron Ore Mining Market - Exploration Projects

A few of the iron ore mining exploration projects in Australia are Rhodes Ridge Project, Jimmawurrada Mine, Prairie Downs Project, Caliwingina Project, and Mount Bevan Project. Rhodes Ridge Project led the market in terms of resources as of 2023, followed by Jimmawurrada Mine.

Australia Iron Ore Mining Market Analysis by Exploration Projects, 2023 (%)

Australia Iron Ore Mining Market Analysis by Exploration Projects, 2023 (%)

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Australia Iron Ore Mining Market - Competitive Landscape

A few of the leading companies in Australia iron ore mining market are:

  • Rio Tinto
  • BHP
  • Fortescue Metals Group (FMG)
  • Mineral Resources Ltd (MRL)

Rio Tinto held the highest capacity in the Australia iron ore mining market in 2022, followed by BHP. The production at BHP and MRL remained flat in 2023, however, Rio Tinto experienced rapid growth. The growth can be attributed to the ongoing ramp-up of its Gudai-Darri operations.

Leading Australia Iron Ore Mining Market Analysis by Companies, 2022 (%)

Leading Australia Iron Ore Mining Market Analysis by Companies, 2022 (%)

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Scope

  • Overview of the Australia iron ore mining industry
  • Key demand driving factors
  • Historical and forecast data on iron ore production, production by company and reserves by country
  • World iron ore prices
  • Profiles of major iron ore producers
  • Competitive landscape
  • Major operating, explorational and developmental mines

Reasons to Buy

  • In-depth Insights: Gain comprehensive industry insights into the Australia iron ore mining market and understand the key market drivers influencing production trends, reserves and market dynamics.
  • Strategic market analysis: Access historical and forecast trends on Australia iron ore production to anticipate market shifts and make forward-looking decisions.
  • Forge valuable partnerships: Identify the leading companies in the Australia iron ore mining market, including information on their sectors of operation, headquarters location, production capacity and owned iron ore mines.
  • Uncover major projects: Dive into a detailed overview of major active, explorational, and developmental projects.

Rio Tinto
BHP
Fortescue Metals Group
Mineral Resources Ltd

Table of Contents

Overview

Reserves

Iron ore Production

Iron ore Prices

Major Active Mines

Major Development Projects

Major Exploration Projects

Competitive Landscape

Demand and Trade

Mining Taxes and Royalties

Appendix

Table

Table 1: Active mines by total reserves (million tonnes)

Table 2: Historical and forecast iron ore production (million tonnes), 2006–26

Table 3: Production and guidance by company (million tonnes), 2020–22

Table 4: Iron ore prices quarterly ($/dmtu), 2014–22

Table 5: Active Mines, 2022

Table 6: Development projects, 2022

Table 7: Exploration Projects, 2022

Table 8: Australia’s iron ore exports by country (million tonnes), 2021

Table 9: Historical and forecast iron ore exports (million tonnes), 2006–26

Table 10: China crude steel production (million tonnes), 2010–26

Table 11: China’s construction output value ($ billion), 2010–26

Table 12: Rio Tinto, major projects, 2022

Table 13: BHP, major projects, 2022

Table 14: Fortescue Metals Group Ltd, major projects, 2022

Table 15: Mineral Resources Limited, major projects, 2022

Table 16: National level mining governing bodies and agencies, 2022

Table 17: Mining governing bodies and agencies by state/territory, 2022

Table 18: Mining governing bodies and agencies by state/territory, 2022

Table 19: Exploration (mineral owner) license application and renewal fees in NSW, 2022

Table 20: Mining leases and fees in NSW, 2022

Table 21: Assessment leases and fees in NSW, 2022

Table 22: Mining license, lease, permit, and administration fees in Northern Territory, 2022

Table 23: Mining titles and fees in Victoria, 2022

Table 24: Mineral titles and fees in Queensland, 2022

Table 25: Mineral tenements and fees in South Australia, 2021

Table 26: Fees for mining license and lease in Tasmania, 2022

Table 27: Other mining related fees in Tasmania, 2022

Table 28: Mining Rents in Tasmania, 2022

Table 29: Mining tenements and fees in Western Australia, 2022

Table 30: Royalty rates in New South Wales by commodity, 2022

Table 31: CRD Factor, 2008–21

Table 32: Price and royalty rate for base and precious metals in Queensland, FY2020–21

Table 33: Discounts on processed minerals, 2021

Table 34: South Australia royalty rates (%), 2022

Table 35: Royalty rates in Western Australia (%), 2022

Table 36: Withholding Tax (%), 2022

Figures

Figure 1: Crude ore reserves by country (billion tonnes), 2016–22

Figure 2: Share of iron ore reserves by country (%), January 2022

Figure 3: Historic and forecast iron ore production (million tonnes), 2006–26

Figure 4: Iron ore prices, quarterly ($/dmtu), 2014–22

Figure 5: Australia’s iron ore export by country (%), 2011 vs 2021

Figure 6: Historical and forecast iron ore exports (million tonnes), 2006–26

Figure 7: Global iron ore consumption by end-use (%), 2021

Figure 8: China crude steel production (million tonnes), 2010–26

Figure 9: China’s construction output value ($ billion), 2010–26

Figure 10: Iron ore production by company (million tonnes), 2020 vs 2021

Figure 11: Three levels of the Australian Government

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