According to GlobalData, Russia is the world’s fifth-largest producer of iron ore in 2023, with output up by 4% on 2022. Over the five years to 2022, production from Russia decreased by a CAGR of 0.21% and is expected to rise by a CAGR of 0.31% between 2023 and 2027. GlobalData uses proprietary data and analytics to provide a complete picture of this market in its Global iron ore mining to 2030 report. Buy the report here.
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Russia accounts for 4% of global production, with the largest producers being Australia, Brazil, China and India. Exports of iron ore from Russia increased by 3% in 2023 over 2022. Russia’s iron ore exports are expected to grow at a CAGR of 25% between 2023 and 2027.
Severstal is one of the leading producers of iron ore in Russia. In 2021, the company’s output was down by 5% over 2020.
For more detailed analysis of global iron ore mining, buy the report here.
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