Press Releases

Brazil iron ore production projected to grow at a CAGR of 3.2%, says GlobalData

20 Nov 2017

Brazil iron ore production is set to increase from 451.4 million tonnes (mt) in 2017 to 511.6 mt in 2021, representing a compound annual growth rate (CAGR) of 3.2%, according to research and consulting firm GlobalData.

The company’s latest report “Iron Ore Mining in Brazil to 2021 – Production Remains Buoyant Supported by New Projects” states that the growth in production is supported by Vale’s S11D Project in the Carajás Mining Complex. The project is designed with an annual production capacity of 90 mt by 2020. The Samarco Mine, with a capacity of 31 mt, is also likely to restart operations during the forecast period.

Domestically, Brazil consumes relatively small amount of iron ore with 57.9 mt in 2016 with steel industry accounted for 49.2 mt or 85% of total consumption. Iron ore consumption is expected to grow moderately from 59.93 mt in 2017 to reach 61.4 mt in 2021

Brazil is among the largest exporters of iron ores and concentrates with 374 mt in 2016. High-grade iron ore with Fe content of 66–67% at Vale’s Carajás Mine Complex and comparatively lower production costs usually makes Brazilian iron ores and concentrates favorable in the global market. Brazilian iron ore exports are projected to replace high-cost, low-grade producers, and increase the country’s share in global seaborne iron ore exports. A growing preference for higher-grade ore from Chinese steel mills will also support export growth from Brazil. Iron ore exports are projected to increase at a CAGR of 1.9% to 439.3 mt in 2021.

Source: Company Press Release

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