Global iron ore cost summary Report

Country Report 22 December 2020

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*Please note that this report only includes an Excel data file if this is indicated in "What's included" below

Report summary

Average seaborne cash costs in 2020 fell to US$29/tonne, compared to US$31/tonne in 2019 and global C1 operating costs were 9% lower than last year. The lower costs were a direct result of plummeting fuel prices in the first half of the year and lower exchange rates which were enough to offset additional costs associated with operating in a COVID-19 environment. We don't expect costs to rise much going forward as productivity and efficiency gains from automation continue to keep costs low.

Vale
Rio Tinto
BHP Billiton
Fortescue
Operating costs
- Delivered costs
Capital costs

Tables and charts

This report includes the following images and tables:

2020 Global total cash cost curve (US$/tonne) FOB / ex mine
Average total cash cost 2009-2030 (US$/tonne, nominal to 2020 and real thereafter)
Capital Expenditure by project category (nominal to 2020 and real thereafter)