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· State backed National Mineral Development Corporation NMDC is India s largest producer with mining output totalling more than 31 million tonnes in the 2019 20 financial year 5 Russia 95 million tonnes Russia is Europe s top iron ore producing country and in 2020 mined an estimated 95 million tonnes

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Iron ore Wikipedia

Iron ore is the raw material used to make pig iron which is one of the main raw materials to make steel—98% of the mined iron ore is used to make steel In 2011 the Financial Times quoted Christopher LaFemina mining analyst at Barclays Capital saying that iron ore is more integral to the global economy than any other commodity except perhaps oil

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Iron ore Russian steel companies relied on iron ore from domestic deposits These deposits often were owned by more than one Russian steel company In 2005 steel companies were acquiring iron ore producers to help make their companies more vertically integrated Russia s iron ore mines and iron and steel works often were located far apart

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· Holding the richest and largest estimated iron ore reserves in the world at 52 billion tonnes with Russia 25 billion tonnes Brazil 23 billion tonnes and China 21 billion tonnes way behind it follows that Australia is home to some of the world s top mining companies

Iron Ore 2007 2021 Data 2022 2023 Forecast Price

Iron ore prices refer to Iron Ore Fine China Import percent grade Spot Cost and Freight for the delivery at the Chinese port of Tianjin Is used to make steel for infrastructure and other construction projects The biggest producers of iron ore are China Australia and Brazil Others include India Russia Ukraine and South Africa