The global iron ore mining market is anticipated to grow at a considerable CAGR of 6.1% during the forecast period. The rising investment on iron ore mining projects to increase iron ore production is a key factor driving the growth of the global iron ore mining market. For instance, in February 2023, Brazilian miner Vale SA announced to increase its production of high-grade iron ore agglomerates in coming years as it sees the average premium for better quality rising in a tightening market. Its output of high-grade agglomerates is set to reach 50 million to 55 million tonnes in 2026, up from 32 million in 2022, before jumping to about 100 million tonnes post-2030. Iron ore supply is set to “stay tighter for much longer, noting that some 400 million tonnes of depletion would require replacement by 2030, while licensing becomes more complex due to more stringent environmental, social and governance (ESG) standards.
Browse the full report description of “Iron Ore Mining Market Size, Share & Trends Analysis Report by Type (Iron Ore Mining Fines, Iron Ore Mining Pellets, and Iron Ore Pellet Feed), and by End-User (Construction, Transportation, and Others) Forecast Period (2023-2030)” at https://www.omrglobal.com/industry-reports/iron-ore-mining-market
Further, in November 2022, NMDC Ltd. announced to invest nearly Rs 900 crore ($1.0 billion) in the next two to three years to ramp up iron ore production from seven million tonnes per annum (MTPA) to 10 million tonnes, from its Kumaraswamy mines in Karnataka. In August, the Supreme Court raised the ceiling limit of iron ore mining from 28 MMT (million metric tonne) to 35 MMT for Ballari district, and from 7 MMT to 15 MMT for Chitradurga and Tumkur districts in Karnataka.
Market Coverage
• The market number available for – 2022-2030
• Base year- 2022
• Forecast period- 2023-2030
• Segment Covered-
o By Type
o By End-User
• Regions Covered-
o North America
o Europe
o Asia-Pacific
o Rest of the World
• Competitive Landscape- including Vale SA, Rio Tinto, BHP, FMG, and Anglo American Plc among others
Key questions addressed by the report
• What is the market growth rate?
• Which segment and region dominate the market in the base year?
• Which segment and region will project the fastest growth in the market?
• Who is the leader in the market?
• How players are addressing challenges to sustain growth?
• Where is the investment opportunity?
Global Iron Ore Mining Market Report Segment
By Type
By End-User
Global Iron Ore Mining Market Report Segment by Region
North America
• United States
• Canada
Europe
• UK
• Germany
• Italy
• Spain
• France
• Rest of Europe
Asia-Pacific
• China
• India
• Japan
• South Korea
• Rest of Asia-Pacific
Rest of the World
• Latin America
• Middle East & Africa
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