Australia Iron Ore Mining to 2035

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Published: February 05, 2026 Report Code: GDMMCFE072MR-ST

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Explore GlobalData’s Australia Iron Ore Mining to 2035 report for insight into iron ore production forecasts, reserves, pricing trends, mining projects, demand drivers, and competitive landscape analysis. Understand Australia iron ore mining market outlook, major producers, exploration activity, steel demand trends, and future supply developments shaping the global iron ore industry.

Understand Australia’s Iron Ore Mining Industry Outlook

Australia continues to play a critical role in the global iron ore industry, supported by large-scale production capacity, ongoing mine expansions, and strong demand from steel, construction, and automobile industries.

GlobalData’s Australia Iron Ore Mining to 2035 report provides comprehensive analysis of the Australian iron ore mining sector, including production forecasts, reserves data, world iron ore prices, competitive landscape analysis, and major operating and development projects.

The report also evaluates the key demand drivers influencing the industry and highlights how operational ramp-ups, mine closures, and new project developments are shaping future production trends.

In addition, the study provides insight into major producers, exploration activities, and long-term market developments through 2035.

Report Value Proposition – Why This Matters for You

As global demand for iron ore continues to evolve, mining companies, investors, suppliers, and strategy teams require accurate market intelligence to assess future production, investment opportunities, and competitive positioning.

This report may help you:

  • Understand Australia’s iron ore production outlook through 2035
  • Analyze historical and forecast production trends
  • Monitor major operating, planned, and exploration projects
  • Assess the impact of mine ramp-ups and closures
  • Track global iron ore supply developments
  • Evaluate competitive dynamics and major producers
  • Benchmark production trends against global mining leaders
  • Support investment planning and operational strategy

Built on GlobalData’s mining industry intelligence and proprietary mining databases, the report provides detailed analysis to help support informed business decisions.

Key Insights in the Australia Iron Ore Mining Market

The report highlights several important developments shaping Australia’s iron ore mining industry.

Key insights include:

  • Australia accounted for 36.8% of global iron ore production in 2024
  • Australian iron ore output is estimated to have reached 967.8 million tonnes in 2025
  • Production increased by 1.4% compared with 2024
  • Growth was supported by the continued ramp-up of existing operations
  • Iron ore production is forecast to grow by 2.6% in 2026
  • Output is expected to reach 993.4 million tonnes in 2026
  • Ongoing ramp-ups at the Onslow, Western Range, and Iron Bridge (North Star Magnetite) projects are supporting growth
  • Planned commencement of the McPhee Creek and Lamb Creek projects may further strengthen production
  • Operations at the Koolyanobbing mine resumed following the sale of MRL’s Yilgarn region assets
  • Planned closures at Itochu Corp’s Yandi and MRL’s Wonmunna Iron Ore Mines may partially moderate supply growth
  • Together, these mines contributed 27.2 million tonnes of output in 2024

The report also examines reserves, pricing trends, production outlooks, and end-use demand drivers influencing the Australian iron ore market.

Scope

What You Will Learn

This report provides insight into:

  • Australia iron ore production forecasts

  • Historical production and reserve trends

  • World iron ore price movements

  • Demand drivers from steel, construction, and automobile industries

  • Major operating mines

  • Planned and exploration projects

  • Competitive landscape analysis

  • Mine expansions and operational developments

  • Supply outlook through 2035

  • Key mining companies operating in Australia

In addition, the report helps you evaluate long-term market trends and future production opportunities.

Target Buyers for This Report

This report may be valuable for:

  • Mining companies

  • Iron ore producers

  • Metals and mining investors

  • Commodity trading firms

  • Steel manufacturers

  • Construction material suppliers

  • Mining equipment companies

  • Government and regulatory agencies

  • Infrastructure developers

  • Consulting and advisory firms

  • Market intelligence teams

  • Financial institutions and private equity firms

Companies involved in resource planning, commodity analysis, and mining investments may also use this report to support strategic decision-making.

How Companies Use This Report

Mining companies, investors, and strategy teams can use this report to evaluate production trends, benchmark competitors, and assess future mining opportunities.

For example:

  • Iron ore producers may use the report to monitor competitive production developments and project activity

  • Steel manufacturers can evaluate future iron ore supply trends and sourcing risks

  • Investors may assess growth opportunities linked to mine expansions and exploration projects

  • Mining equipment suppliers can identify regions with rising operational activity

  • Infrastructure and logistics providers may evaluate mining expansion trends and transport requirements

  • Consulting firms can use the analysis to support commodity market forecasting and mining sector advisory projects

Reasons to Buy

Benchmark Australia’s Iron Ore Industry Against Global Mining Leaders

Australia remains the world’s largest iron ore producer, making benchmarking increasingly important for mining operators and investors.

This report helps you benchmark:

  • Production volumes

  • Reserve positions

  • Major mining projects

  • Competitive activity

  • Supply growth trends

  • Operational developments

  • Exploration pipelines

As a result, you can better understand Australia’s position within the global iron ore market and evaluate future growth opportunities.

Built on Trusted GlobalData Mining Intelligence

GlobalData’s Australia Iron Ore Mining to 2035 report is backed by GlobalData’s proprietary mining databases and sector expertise.

Trusted by Fortune 500 companies, mining operators, commodity analysts, and government organizations, GlobalData provides actionable mining intelligence across global resource markets.

In addition, the report is supported by analysts with decades of mining sector expertise and experience tracking global commodity and project developments.

Act Now to Identify Emerging Opportunities in Australia’s Iron Ore Sector

Australia’s iron ore mining industry continues to evolve through operational ramp-ups, new projects, changing supply dynamics, and global demand trends.

This report can help you monitor market developments, benchmark industry activity, and identify strategic opportunities across the Australian iron ore mining value chain through 2035.

Rio Tinto
BHP
Fortescue Ltd
Mitsui & Co Ltd
Mineral Resources Ltd

Table of Contents

Overview

Crude ore reserves

Iron ore production

Iron ore prices

Major active mines

Major development projects

Major exploration projects

Competitive landscape

Demand and trade

Taxes and Royalties

Appendix

Table

Table 1: Active mines by total reserves (million tonnes)

Table 2: Historical and forecast iron ore production (million tonnes), 2006–26

Table 3: Production and guidance by company (million tonnes), 2020–22

Table 4: Iron ore prices quarterly ($/dmtu), 2014–22

Table 5: Active Mines, 2022

Table 6: Development projects, 2022

Table 7: Exploration Projects, 2022

Table 8: Australia’s iron ore exports by country (million tonnes), 2021

Table 9: Historical and forecast iron ore exports (million tonnes), 2006–26

Table 10: China crude steel production (million tonnes), 2010–26

Table 11: China’s construction output value ($ billion), 2010–26

Table 12: Rio Tinto, major projects, 2022

Table 13: BHP, major projects, 2022

Table 14: Fortescue Metals Group Ltd, major projects, 2022

Table 15: Mineral Resources Limited, major projects, 2022

Table 16: National level mining governing bodies and agencies, 2022

Table 17: Mining governing bodies and agencies by state/territory, 2022

Table 18: Mining governing bodies and agencies by state/territory, 2022

Table 19: Exploration (mineral owner) license application and renewal fees in NSW, 2022

Table 20: Mining leases and fees in NSW, 2022

Table 21: Assessment leases and fees in NSW, 2022

Table 22: Mining license, lease, permit, and administration fees in Northern Territory, 2022

Table 23: Mining titles and fees in Victoria, 2022

Table 24: Mineral titles and fees in Queensland, 2022

Table 25: Mineral tenements and fees in South Australia, 2021

Table 26: Fees for mining license and lease in Tasmania, 2022

Table 27: Other mining related fees in Tasmania, 2022

Table 28: Mining Rents in Tasmania, 2022

Table 29: Mining tenements and fees in Western Australia, 2022

Table 30: Royalty rates in New South Wales by commodity, 2022

Table 31: CRD Factor, 2008–21

Table 32: Price and royalty rate for base and precious metals in Queensland, FY2020–21

Table 33: Discounts on processed minerals, 2021

Table 34: South Australia royalty rates (%), 2022

Table 35: Royalty rates in Western Australia (%), 2022

Table 36: Withholding Tax (%), 2022

Figures

Figure 1: Crude ore reserves by country (billion tonnes), 2016–22

Figure 2: Share of iron ore reserves by country (%), January 2022

Figure 3: Historic and forecast iron ore production (million tonnes), 2006–26

Figure 4: Iron ore prices, quarterly ($/dmtu), 2014–22

Figure 5: Australia’s iron ore export by country (%), 2011 vs 2021

Figure 6: Historical and forecast iron ore exports (million tonnes), 2006–26

Figure 7: Global iron ore consumption by end-use (%), 2021

Figure 8: China crude steel production (million tonnes), 2010–26

Figure 9: China’s construction output value ($ billion), 2010–26

Figure 10: Iron ore production by company (million tonnes), 2020 vs 2021

Figure 11: Three levels of the Australian Government

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