Country Report

Australia iron ore supply summary

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20 May 2021

Australia iron ore supply summary

Report summary

2021 is proving to be another surprising year for the iron ore industry. Higher than expected Chinese steel demand and ongoing tightness in the seaborne market has resulted in prices reaching an all time high. Australian operators have been some of the biggest winners from this year’s iron ore price rise with margins reaching a staggering 76%. Despite strong demand, Australian production is expected to remain relatively flat this year at 936 Mt. There are risks facing the Australian market at the moment. Rising trade tensions with China threatens to negatively impact the iron ore market with China looking to diversify its reliance on Australian ore. In addition, Aboriginal Heritage issues are thought to be delaying proposals for new pit development, new projects and expansions. Western Australia is in the process of reviewing its Aboriginal Heritage Act and we expect the new legislation to put a greater onus on operators to come to agreements with traditional land owners.

Table of contents

  • Cash costs
  • Capital costs
  • Margins
    • Pilbara:
    • Other Western Australia:
    • South Australia:
    • Other regions:
    • BHP
    • Rio Tinto
    • FMG
    • Hancock Prospecting
    • Mineral Resources Ltd (MRL)
    • South Australia
    • Other regions

Tables and charts

This report includes 26 images and tables including:

  • Value-in-use adjusted cost curve 2021 (CFR China, 62% equivalent)
  • Cash costs by key company
  • Cash costs
  • Capital costs
  • Average operating margin (US$/tonne)
  • 2021 Australia iron ore CO2e emission curve - by product
  • 2021 iron ore seaborne export CO2e emission curve (Scope 1&2)
  • 2021 Global seaborne cash cost curve (energy adjusted)
  • Production by key company
  • Costed production by status
  • Attributable marketable production by company
  • Seaborne iron ore cash costs by operator 2020 (CFR China, unadjusted for quality)
  • Port export capacity
  • Pilbara Region
  • Other Western Australia
  • South Australia
  • Attributable marketable reserves by company (at 01/01/2021)
  • Raw ore Fe grade 2020
  • Product Fe grade 2020
  • Impurities 2020
  • Pilbara Region
  • Other Western Australia
  • South Australia
  • Australia iron ore producing regions
  • Fiscal Terms

What's included

This report contains:

  • Document

    Australia Iron Ore Supply Summary.xls

    XLS 1.05 MB

  • Document

    Australia iron ore supply summary

    PDF 3.23 MB

  • Document

    Australia iron ore supply summary

    ZIP 3.35 MB