Iran world’s 8th iron ore producer: report

Business Materials 1 March 2010 11:34 (UTC +04:00)

Iran named the 8th largest producer of iron ore in 2009 with 33 million tons of output, ISNA news agency quoted a report by the U.S. Geological Survey as saying.

China was the biggest producer with 900 million tons of output, the report added.

Brazil was the second largest producer with 380 million tons, and Australia was the third with 370 million tons.

These three countries were also the top producers in 2008.

The total production of iron ore in 2009 was approximately 2.3 billion tons.

China is also the largest consumer of Iron ore as well, and world production is correlated to this country's needs.

In 2009, China invested in iron ore projects in Africa, Australia and South America.

World crude ore reserves top 800 billion tons with an estimated 230 billion tons of iron content.

Iran has the largest crude ore reserves in the Middle East which is an important factor in supporting the steel industry in the country.