Iron Ore Production by Country 2024

1. Australia

Australia tops the list of iron ore production by country 2022. It is the leading producer of iron ore in the world. The nation produces about 37.6% of total world production. In 2020, it produced a whopping 900 million metric tons of iron ore. It doubles its closest rival, Brazil. Australia also has nearly 48 billion tons of crude iron ore reserves, the largest globally. Iron ore is the country's largest export, and its major markets are China, Japan, South Korea, Taiwan, and Vietnam.

2. Brazil

Brazil is the second-largest producer of iron ore. In 2020, the Latin American nation produced a staggering 400 million metric tons of iron ore. Brazil produces 16.7% of total world production. China, the United States, India, and Malaysia are the main markets for iron ore from Brazil. Iron ore in Brazil is abundant in the state of Para, which produces nearly 190 tons every year, followed closely by the state of Minas Gerais. Vale, a Rio de Janeiro-based mining company, is the main iron miner in Brazil.

3. China

Despite being a major importer of iron ore, China is also a top iron ore producer. That's because it consumes more tons of iron ore than any country. China supplements its domestic iron ore with imports from other countries to sustain its demand in the steel industry and other related fields. The Asian country produced 340 million tonnes of iron ore in 2020, which accounted for 14.2% of the total world production. It has nearly 20 billion tons of crude oil reserves. Areas in China rich in iron ore include Hebei, Inner Mongolia, Liaoning, and Shanxi.

4. India

India is Asia's second-largest producer of iron ore and the fourth-largest producer worldwide. It produces about 200 million metric tons every year and accounts for 9.6% of the total iron ore produced around the globe. India exports its resources to Japan and South Korea despite using iron ore in its steel industries. Its two major customers in these countries are Japanese Steel Mills and Posco. National Mineral Development Corporation, Vedanta, and Hindustan Zinc are India's major iron ore miners.

5. Russia

With a production of about 90 million metric tons every year, Russia closes the list of iron ore production by country 2022. It is the leading producer of iron in Europe. The nation is expected to increase its iron ore production given its extensive iron ore reserves, which hold an estimated 25 billion metric tons. Russia is among the leading exporters of iron, with its main markets being China, Ukraine, Germany, Slovakia, and Turkey.