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Iron ore project review 2018

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09 October 2018

Iron ore project review 2018

Report summary

This year, three projects have been approved, South Flank, Eliwana and Koodaideri. We have added ten projects to our project profile including Kami, El Aouj, Shymanivske, the Koolan Island restart and Pampa de Pongo. Bloom Lake and Kaunisvarra, both brownfield projects have commenced production and will add 9Mt to the supply base. We still think the outlook for investment in projects is difficult with few approvals likely over the next 2 years. We expect the projects that progress forward will be premium grade operations. Capital intensity has fallen to an average of US$95 per tonne of capacity which reflects the preference for less capital intensive brownfield projects, revised project scopes and lower costs. However with three major sustaining projects under construction in Australia between 2018 and 2021, all competing for labour and materials, we expect to see a gradual rise in capital intensity for projects that move toward approval status.

Table of contents

  • Executive Summary
  • Project pipeline stronger but will it expand global capacity?
  • Project cancellations and deferrals
  • Project completions
  • Capital costs decline again but is this the bottom of the cycle?

Tables and charts

This report includes 6 images and tables including:

  • Proposed capacity and capital expenditure
  • Project incentive prices
  • Potential capacity additions
  • Project capital intensity
  • Average capital intensity
  • Projects with capex changes

What's included

This report contains:

  • Document

    projects_for_insight_2018.xls

    XLS 632.00 KB

  • Document

    Iron ore project review 2018

    PDF 849.63 KB

  • Document

    Iron ore project review 2018

    ZIP 966.38 KB