Quick Answer: Who Does Australia Sell Iron Ore To In Asia?

Who is the largest exporter of iron ore?

AustraliaAustralia, consistently the leading iron ore exporting country in the world, exported 887 million metric tons in 2018.

On the other hand, China was the world’s largest importer of iron ore that year, accounting for a 65 percent share of the total global iron ore import volume..

What does China export to Australia?

China exports to AustraliaValueYearMineral fuels, oils, distillation products$1.98B2018Articles of apparel, knit or crocheted$1.86B2018Articles of apparel, not knit or crocheted$1.77B2018Toys, games, sports requisites$1.39B20186 more rows

Which country exports the most steel?

China was the world’s largest steel exporter in 2019. In 2019, China exported 62.0 million metric tons of steel, a 7.3 percent decrease from 66.9 million metric tons in 2018. China’s exports represented about 15 percent of all steel exported globally in 2019.

How many iron ore mines are in Australia?

Figure 3.15 Australia’s major iron ore deposits based on total Identified Resources. Source: Geoscience Australia….World Ranking.CountryAustraliaIron ore (Mt)44 700Percentage of iron ore world total25%Contained iron (Mt)20 600Percentage of contained iron world total25%12 more columns

How many iron ore mines are there in Western Australia?

five minesWestern Australia Iron Ore (WAIO) is an integrated system of four processing hubs and five mines connected by more than 1,000 kilometres of rail infrastructure and port facilities in the Pilbara region of northern Western Australia.

Does China need Australian iron ore?

Iron ore is ‘critical’ to China’s economy It depends heavily on Australian iron ore, which is “critical” to the Chinese economy, said Thompson.

Who is the biggest iron ore producer in Australia?

Australia’s single largest iron ore mine, Roy Hill, is HPPL’s majority-owned (70%) $10bn mega operation. Successful development has seen Roy Hill producing 55 million tonnes of ore in 2019. Hancock’s Hope Downs joint venture with Rio Tinto produced about 47 million tonnes in the same year.

What if we stopped buying from China?

If the rest of the world stopped buying from China today. The world economy would pretty much collapse. Everyone would scramble around trying to fix it. … Our supply chains are very entwined with China and it would take massive investment of time, money, talent, and resources to adapt to such a big change.

How much iron ore does China buy from Australia?

Last year, China imported 664.6 million tonnes of the commodity from Australia, accounting for 62% of the country’s total iron ore imports. The second-largest source, Brazil, had a 21% share.

What is iron ore used for in Australia?

Over the last ten years, Australia’s iron ore export volumes have increased by more than 200 per cent. Iron ore has always been an important commodity. Steel is a key resource for building infrastructure, high density housing and manufacturing equipment, which is why it is widely used by industrialising economies.

What is Australia’s biggest export?

iron oreAustralia’s main export is iron ore, followed by their other most valuables exports coal, gold, and petroleum. These exports alone rake in $48.2 billion, $47 billion, $29.1 billion, and $20.3 billion, respectively. Of course, the country also ships other noteworthy items including food, wine, and cars.

Who does Australia sell iron to?

More than 80 per cent of our iron ore is exported to China, with Japan, South Korea and Taiwan making up for most of the rest.

Which country has the best quality iron ore?

Top five iron ore producing countries from Australia to RussiaAustralia – 930 million tonnes. … Brazil – 480 million tonnes. … China – 350 million tonnes. … India – 210 million tonnes. … Russia – 99 million tonnes.

Who is the largest exporter of coal?

AustraliaWith exports of 249.4Mtoe in 2018, Australia is the leading coal exporting country in the world — accounting for 29% of the world’s total coal exports. In 2018, Australia produced 301.1Mtoe of coal, consuming about 15% for domestic needs.

How much iron ore is left in the world?

World resources of crude iron ore are estimated to exceed 800 billion tons containing more than 230 billion tons of iron.

Why is there a strong demand overseas for Australian iron ore?

Australian iron ore exports to China surged in the first half of the year, as demand from steel mills rose to supply Beijing’s infrastructure building push to boost the coronavirus-hit economy. … China’s economic recovery.

Who buys the most iron ore?

ChinaChina accumulated a majority of the global iron ore imports in 2019, with a 69.1 percent share of total global imports. Japan followed behind distantly with a 7.5 percent share of iron ore imports. On the other hand, Australia exports the largest share of global iron ore.

How much iron ore does Australia have left?

Australia currently has the world’s largest estimated reserves of iron ore at more than 52 billion tonnes. There’s an approximated 170 billion tonnes left in the earth, positioning Australia with a third of the world’s supply.

Where does China get iron ore?

In 2019, China imported more than 1 billion tons of iron ore, 70% of the global supply and 80% of the country’s total demand. About 80% of China’s iron ore imports come from the four largest mining companies — Brazil’s Vale S.A. and Australia-based Rio Tinto, BHP Group Ltd. and Fortescue Metals Group.

Where does Australia export coal to?

Australia’s major markets for metallurgical coal are India, China and Japan, which collectively account for around two-thirds of exports.

What countries does Australia export iron ore to?

produces to China, Japan, Korea and Taiwan. China accounted for 82 per cent of Western Australia’s iron ore exports in 2016-17, followed by Japan (9 per cent), Korea (6 per cent) and Taiwan (2 per cent).