Report: Australia leads iron ore mining market growth to 2020
Australia still reigns supreme in iron ore. The latest Global Iron Ore Mining Market to 2020 research report said worldwide iron ore reserves were 190 billion tons as of January 2015, with Australia accounting for the largest share at 53 billion or 27.9 percent of the total.
Global iron ore mining market and reserves dominated by Australia are followed by Brazil at 31 billion (16.3 percent), Russia at 25 billion (13.2 percent), China at 23 billion (12.1 percent) and India at 8.1 billion (4.3 percent) as of January 2015. In 2014, Australia was the largest producer of iron ore accounting for 36.1 percent of world production, followed by Brazil accounting for 20.2 percent, China (12.8 percent) and India (8.2 percent). Australia was the largest exporter of iron ores and concentrates (including roasted iron pyrites) in 2014, exporting 755.1 million, followed by Brazil (344.4 million), South Africa (67.2 million), Ukraine (40.9 million) and Canada (40.3 million).
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The Hamersley range, Pilbara region of Western Australia has rich deposits of hematite ore which normally contains 56-62 percent iron. Much of the hematite in the Pilbara is further categorized as direct shipping ore (DSO) because of its simplistic processing. In Brazil, iron ore is mainly extracted from hematite ores but can also be found in low grade itabirite ores which has iron content in the range of 35-64 percent. Russian iron ore deposits are primarily located across the Ural region, Moscow and North West Russia. Chinese iron ore reserves are spread across the provinces of Liaoning, Sichuan, Hebei, Inner Mongolia, Shanxi, Shandong, Anhui, Hubei and Gansu.
Vale S.A., Rio Tinto and BHP Billiton are the major iron ore mining market producers mentioned in this research. This research helps gain an understanding of the global iron ore mining market, the relevant demand drivers, reserves, historic and forecast production and consumption, trade (major exporting and importing countries), active, exploration and development projects and the competitive landscape.
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About the report: Timetric's 'Global Iron Ore Mining to 2020' report comprehensively covers global reserves of iron ore and reserves by country. It also covers the historic and forecast data on global iron ore production, production by country, historic and forecast consumption and major exporting and importing countries. The report also includes demand drivers affecting the global iron ore mining industry, world steel demand by region, profiles of major iron ore producing companies and information on the active, exploration and development projects by region.
Vale invests $150mn to extend life of Manitoba operations
Vale has announced a $150mn CAD investment to extend current mining activities in Thompson, Manitoba by 10 years while aggressive exploration drilling of known orebodies holds the promise of mining well past 2040.
Global energy transition is boosting the market for nickel
The Thompson Mine Expansion is a two-phase project. The announcement represents Phase 1 and includes critical infrastructure such as new ventilation raises and fans, increased backfill capacity and additional power distribution. The changes are forecast to improve current production by 30%.
“This is the largest single investment we have made in our Thompson operations in the past two decades,” said Mark Travers, Executive Vice-President for Base Metals with Vale. “It is significant news for our employees, for the Thompson community and for the Province of Manitoba.
“The global movement to electric vehicles, renewable energies and carbon reduction has shone a welcome spotlight on nickel – positioning the metal we mine as a key contributor to a greener future and boosting world demand. We are proud that Thompson can be part of that future and part of the low carbon solution.”
Vale continues drilling program at Manitoba
Coupled with today’s announcement, Vale is continuing an extensive drilling program to further define known orebodies and search for new mineralization.
“This $150mn investment is just one part of our ambitious Thompson turnaround story. It is an indicator of our confidence in a long future for the Thompson operations,” added Dino Otranto, Chief Operating Officer for Vale’s North Atlantic Base Metals operations.
“Active collaboration between our design team, technical services, USW Local 6166, and our entire Thompson workforce has delivered a safe, efficient and fit-for-purpose plan that will enable us to extract the Thompson nickel resources for many years to come.”
The Thompson orebody was first discovered in 1956 by Vale (then known as Inco) following the adoption of new exploration technology and the largest exploration program to-date in the company’s history. Mining of the Thompson orebody began in 1961.
“We see the lighting of a path forward to a sustainable and prosperous future for Vale Base Metals in Manitoba,” said Gary Annett, General Manager of Vale’s Manitoba Operations.