From Friday, September 22nd at 4 PM ET until Monday, September 25th, Wood Mackenzie will be experiencing a planned internal system migration. If you need any support during this time, don't hesitate to contact our customer support team using the Webchat below.


Iron ore project review 2019

Get this report


You can pay by card or invoice

For details on how your data is used and stored, see our Privacy Notice.

- FAQs about online orders
- Find out more about subscriptions

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.

Table of contents

    • Executive Summary
    • High iron ore prices spur interest in projects
    • Revitalising old projects
    • Project completions
    • Capital costs rise 30%

Tables and charts

This report includes 6 images and tables including:

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

What's included

This report contains:

  • Document

    Iron ore project review 2019

    ZIP 1016.09 KB

  • Document

    Iron ore project review 2018

    ZIP 922.40 KB

  • Document


    XLS 659.00 KB