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8 ensp 0183 ensp Australian Iron Ore Industry is the world s largest in terms of iron ore production and export accounting for 37 of global production and 52 of global iron ore exports annually China is the largest iron ore importer responsible for over 68 of the total Australian iron ore export worth

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5 ensp 0183 ensp Iron ore smelter International sales of iron ore exported by country totaled US 92 6 billion in 2018 declining by 3 since 2014 when iron ore shipments were valued at 125 7 billion and shrinking by 9 from 2017 to 2018 From a continental perspective Oceania led by Australia sold the greatest amount of exported iron ore at 50 4 of the global total

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The major contributor to this global rise in iron ore prices was the closure of Samarco Mine in Brazil A joint Venture of Vale amp BHP The biggest ever gain in the prices of iron ore was recorded on Ma when the spot iron ore price rose to 64 40 PMT CFR with a gain of 10 70 This is the highest since February 2015

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24 ensp 0183 ensp Rio Tinto aims to strengthen communities wherever we operate One way we do this is through our local procurement practices to deliver benefits for communities suppliers and our business Our procurement practices and those of our contractors help sustain many Western Australian businesses and in turn local communities

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