Industry Analysis & Industry Trends
Over the five years through 2012-13, revenue for the Iron Ore Mining industry is expected to increase at an annualised 20.2% to reach $74.5 billion. Strong economic growth in large emerging nations, such as China and India, has lifted steel production, fuelling growing demand for iron ore and boosting its price (even allowing for the fall in 2011-12). Rising prices have led to capacity expansions and large-scale increases in Australia's iron ore output. These factors have contributed to the 6.3% annualised increase in Australia's iron ore production over the past five years.
Despite strong growth over the past five years, industry revenue is forecast to increase by just 2.0% in 2012-13 as higher output fails to offset price weakness... purchase to read more
Industry Report - Industry Locations Chapter
The geographic spread of iron ore output reflects the location of the mineral resource. Nearly all of Australia's iron ore is mined in Western Australia (about 97.0%) and most of this output is exported. Small quantities of iron ore are mined in South Australia (about 2.2% of output), with production used by local steel producers as well as destined for export markets. The importance of South Australia has increased since 2006-07, due to a decision by Arrium Limited (formerly known as OneSteel) to develop and mine a magnetite iron ore resource in that state. Iron ore is also mined in the Northern Territory and at Savage River in Tasmania. Tasmania's output is processed into iron ore pellets, about half of which are used domestically with the remainder destined for export... purchase to read more