Question: How Much Iron Ore Does Australia Have Left?

How much iron ore does Australia have?

More information.

Source: Office of the Chief Economist.

Australia has the world’s largest estimated reserves of iron ore with 52 billion tonnes, or 30 per cent of the world’s estimated 170 billion tonnes..

Which country has most iron ore?

BrazilLeading iron ore producing countries worldwide Australia and Brazil are among the world’s largest iron ore producers and hold a large portion of the world’s iron ore reserves. Australia makes up half of the world’s iron ore exports. Brazil exported around 23 percent of the world’s total iron exports.

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.

How much iron ore does China import from Australia?

In 2019, Australia was China’s biggest supplier of iron ore, accounting for around 62.2 percent of the total iron ore import tonnage to China. According to the National Bureau of Statistics of China, China imported a total amount of approximately 1,064.12 million metric tons of iron ore in 2018.

Where is the largest iron ore mine in the world?

BrazilCarajas, Brazil The Vale-owned Carajas mine in the state of Para in Northern Brazil is the world’s biggest iron ore mine holding 7.27 billion tonnes of proven and probable reserves as of December 2012.

Are we running out of gold?

One factor gold has on its side though is that, unlike other non-renewable resources like oil, it can be recycled. So we will never run out of gold, even when we can no longer mine it. A large amount of gold is used in electronic products that are widely viewed as disposable, such as mobile phones.

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.

Where does Australia’s iron ore go?

The bulk of Western Australian ore went to China, which imported 82% of 2018 production, followed by Japan with 7.5% and South Korea with 6%. The state has the world’s largest reserves of iron ore with 29% of the world’s iron ore, followed by Brazil with 19%, Russia with 15% and China with 12%.

Which country is the largest exporter of iron ore?

List of countries by iron-ore exports#CountryValue in 20161Australia38,1012Brazil14,1103South Africa4,1894Canada2,65616 more rows

Will the earth run out of water?

We won’t run out of water. What characterizes the earth is that it’s blue, because of the oceans. 97% of the water on earth is in the oceans; 2% is in ice; only about 1% is available for—that isn’t in the ocean or trapped in the ice caps.

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.

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.

Will we run out of iron?

We will never run out of iron too because it comprises 5% of all Earth Crust. However, currently only those ores that contain above 50% iron are economic. … We currently produce only measly amount of iron compared to what is on the crust.

Who buys Australia’s iron ore?

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).

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.