Iron ore is the mineral that serves as the primary source for the extraction of metallic iron. Of the total domestic consumption of iron ore, about 98% of the iron ore is used in the iron and steel industry for the production of pig iron.
World’s Leading iron ore Reserves
Brazil and Australia account for the major production of iron ore worldwide. As of 2020, Brazil had reserves of 34 billion metric tons of crude ore whereas Australia has about 50 billion tons of crude ore.
1.Austalia- 50 Billion tonnes
Australia has the largest reserves of iron ore with an estimated 50 billion tonnes of crude ore.
2.Brazil-34 billion tonnes
Brazil holds the second-largest iron ore reserves worldwide, with an estimated reserve of billion tonnes.
3. Russia – 25 billion tonnes
Russia holds the third reserve with an estimated 25 billion tonnes of iron ore.
4. China – 20 billion tonnes
China ranks fourth on the list of the world’s largest iron ore reserves in 2020, with an estimated reserve of around 20 billion tonnes.
5. Ukraine – 6.5 billion tonnes
Ukraine has an estimated 6.5 billion tonnes of crude iron ore reserves.
6. Canada – 6 billion tonnes
Canada has approximately six billion tonnes of reserve making it the world’s 6th largest iron ore reserves in 2020.
7. India – 5.5 billion tonnes
India holds the 7th position with an estimated reserve of 5.5 billion tonnes.
8. United States- 3 billion tonnes
US has around 3 billion tonnes of crude iron ore reserve.
9.Iran-2.7 billion tonnes
Iran has an estimated reserve of 2.7 billion tonnes.
10.Kazakhstan-2.5 billion tonnes
Kazakhstan ranks 10th among the world’s largest iron reserve list, estimated at 2.5 billion tonnes.
11.Sweden-1.3 billion tonnes
Sweden has an estimated reserve of 1.3 billion tonnes.
12. South Africa-1.1 billion tonnes
South Africa’s iron ore reserve is estimated at 2.7 billion tonnes.
