Country Report

Global iron ore cost summary

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22 December 2020

Global iron ore cost summary

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.

Table of contents

  • Vale
  • Rio Tinto
  • BHP Billiton
  • Fortescue
    • Delivered costs
  • Capital costs

Tables and charts

This report includes 24 images and tables including:

  • 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)
  • 2020 Global operating margin curve (US$/tonne)
  • Australia
  • Brazil
  • Cameroon
  • Canada
  • Chile
  • China
  • Guinea
  • India
  • Kazakhstan
  • Liberia
  • Mauritania
  • Peru
  • Republic of Congo
  • Russia
  • Sierra Leone
  • South Africa
  • Sweden
  • Ukraine
  • United States
  • Delivered contestable iron ore cash costs, CFR North China 2020 US$/dmt 62% Fe fines equivalent

What's included

This report contains:

  • Document

    Global iron ore cost summary

    PDF 856.12 KB

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    Global iron ore cost summary

    ZIP 1.31 MB

  • Document

    2020 Global Iron Ore Summary

    XLS 2.54 MB