Name: Iron ore project review 2019
Brand: Wood Mackenzie
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Author: Wood Mackenzie

Insight 16 July 2019

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Our estimated average capital intensity for 2019 has risen 30% to US$124 per tonne. While we had forecast a small, gradual increase in capital costs going forward, this jump was larger than anticipated. With several large projects underway and other smaller developers seeking to re-enter the market, the increased competition for labour and materials is driving costs up. But tight supply and strong Chinese demand has resulted in a rising iron ore price which is attracting interest in both new and old projects. Looking forward, we can expect to see some smaller re-starts and expansions successfully commence production but larger greenfield projects with high capital requirements are still likely to find financing difficult.</div>
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            Iron ore project review 2019
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        Executive Summary
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    <li class="push-quarter--bottom">
        High iron ore prices spur interest in projects
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        Revitalising old projects
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        Project completions
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        Capital costs rise 30%
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         <li class="list__item push-quarter--bottom">Proposed capacity and capital expenditure</li><li class="list__item push-quarter--bottom">Project incentive prices</li><li class="list__item push-quarter--bottom">Capacity additions</li>
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            <li class="list__item push-quarter--bottom">Project capital intensity</li><li class="list__item push-quarter--bottom">Average capital intensity</li><li class="list__item push-quarter--bottom">Projects with capex changes</li>
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<p class="font-regular" >Iron ore project review 2019</p>
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