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Iron ore project review 2019

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25 July 2019

Iron ore project review 2019

Report summary

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

    PDF 1012.04 KB

  • Document

    Iron ore project review 2018

    ZIP 922.40 KB

  • Document

    Projects_for_insight.xls

    XLS 650.00 KB

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