Industry Analysis & Industry Trends
Over the five years through 2014-15, revenue for the Iron Ore Mining industry is expected to increase at an annualised 13.5% to reach $83.9 billion. Strong economic growth in large nations, such as China and India, has increased steel production, fuelling demand for iron ore and boosting its price over most of the past five years. Rising prices have led to capacity expansions and large-scale increases in Australia's iron ore output, particularly between 2011-12 and 2014-15.
Following a large decline in 2012-13 due to falling prices, industry revenue rebounded in 2013-14 by 25.2%, on the back of higher iron ore output, low iron ore inventories in Chinese ports and increased Chinese steel output. This was despite low prices in January 2014 and in subsequent months... purchase to read more
Industry Report - Industry Locations Chapter
The geographic spread of iron ore revenue and output reflects the location of the mineral resource. Nearly all of Australia's iron ore is mined in Western Australia (about 97.4% of industry revenue estimated in 2014-15) and most of this output is exported. Small quantities of iron ore are mined in South Australia (about 1.7% of industry revenue estimated in 2014-15), with production used by local steel producers as well as destined for export markets. The balance is from the Northern Territory and Tasmania. Although a high proportion of industry firms are based in New South Wales, these are generally exploration or holding companies that do not generate any iron ore output or revenue... purchase to read more