How much iron is in the Pilbara?
The report estimated that the average remaining resource life for major Pilbara producers at 65 years, with Australia boasting an estimated 70 billion tonnes of JORC compliant iron ore resources remaining.
Who owns Pilbara iron ore?
Rio Tinto Group
Pilbara Iron is a wholly owned subsidiary of the multinational Rio Tinto Group, that manages assets for Hamersley Iron Pty Ltd, a wholly owned subsidiary of Rio Tinto, and Robe River Iron Associates, an unincorporated joint venture between Rio (53% and operator since 2000) and three Japanese steel companies Mitsui Iron …
Why does Western Australia have so much iron?
Approximately 96% of Australia’s iron ore exports are high-grade hematite, the bulk of which has been mined from deposits in the Hamersley province of Western Australia. The Brockman Iron Formation in this province is the most significant host for high-grade hematite iron ore deposits.
How much iron ore is left in Australia?
Australia has the world’s largest estimated reserves of iron ore with 52 billion tonnes, or 30 per cent of the world’s estimated 170 billion tonnes.
Where does Australia iron ore go?
The bulk of Western Australian ore went to China, which imported 82% of 2021 production, followed by Japan and South Korea, with 6% each. The state has the world’s largest reserves of iron ore with 29% of the world’s iron ore, followed by Brazil with 19%, Russia with 15% and China with 12%.
Does Pilbara Minerals mine iron ore?
Our Iron Valley site, located within the Pilbara, is currently our largest iron ore producing mine, outputting approximately 8 Million tonnes of iron ore per annum. Product from this mine is transported to Utah Point for export to our global markets.
How much iron ore does Australia sell to China?
around 126.8 billion Australian dollars
In financial year 2021, the value of iron ore exported from Australia to China amounted to around 126.8 billion Australian dollars. China was by far the leading export destination for Australian iron ore in terms of value in this time.