Global Iron Ore Production, to grow 3.6% on an average between 2021-2025

Brazil’s Vale is planning to expand their bases while Australia’s Rio Tinto, BHP, and Fortescue are currently thinking of converting their profits into additional production. 

According to Fitch Solutions experts, “Chinese firms will priorities their investment in overseas iron ore mines, such as the enormous Sim Andou deposit in Guinea. By 2025, lower prices will eventually drag on production growth rates. China’s miners operate at the higher end of the iron ore cost curve and domestic ore grades will continue to decline.” On taking a look at the Indian economy,  Fitch Solutions experts added, “India’s iron ore output growth supported by the removal of export taxes in the Union Budget for low-grade ores and the country’s Mines & Minerals (Development & Regulation) (MMDR) Act, to streamline licensing and reopen closed mines.”