Top 10 Iron Ore Producing Countries

2026-04-07 16:50:00 ET

These countries are the world's top producers of iron, a metal that is essential for making steel for construction and infrastructure.

Because of its role in infrastructure, like copper, iron demand and prices are impacted by changes in global economies. Iron ore prices have displayed volatility in the past half decade as the world has dealt with the economic uncertainty from COVID-19, the Russia-Ukraine war, ongoing conflicts in the Middle East and rising trade tensions.

Prices for the base metal reached a record high of over US$220 per metric ton (MT) in May 2021, but that level wouldn't hold for long as lower demand from China alongside rising supply levels caused prices to dropped drastically in late 2021.

While there was some recovery in the intervening years, positive sentiment in the iron ore market evaporated in 2024 as the global economic outlook weakened on higher interest rates, lower demand and challenges in China's property sector. After starting the year at a high of US$144 per metric ton, iron ore prices slid to finish out the year at about US$95.

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A cyclical rebound in Chinese steel production in Q1 2025 pushed prices for the metal up to briefly touch US$107 per MT in February. However, in Q2 2025, China's economic woes, a growing surplus in iron mine supply and steel and aluminum tariffs were responsible for pressuring iron ore prices back down below US$95 by late June. In the second half of the year, prices rose back up alongside global markets to again reach US$107.

As for iron ore in 2026 , prices fell steeply to start February to just below US$100 but quickly regained ground to end Q1 at US$106.

"Geopolitical tensions have spurred some countries to explore alternative sources of iron ore, raising the profile of new geographic markets,” Fastmarkets reported in its June 2025 iron ore market outlook. “Policy changes in iron ore-consuming regions, driven by trade tensions and domestic priorities, have led to adjustments in global supply chains.”

One new source of iron ore is Guinea, which is likely to enter the top iron countries in the coming years. In December 2025, the massive Simandou mine in Guinea shipped its first iron ore , destined for smelters in China. As it ramps up over the coming years, the mine is expected to produce 15 million to 20 million MT of iron ore in 2026 and 40 million to 50 million MT in 2027.

To better understand the dynamics of the iron ore market, it's helpful to know which countries are major iron producers. With that in mind, these are the top 10 nations for iron ore production by country, using the latest data provided by the US Geological Survey.

1. Australia

Usable iron ore: 980 million metric tons
Iron content : 600 million metric tons

Australia is the largest iron producing country by far, with usable iron ore production of 980 million metric tons in 2025. Australia’s leading iron ore producer is BHP Group (ASX:BHP,LSE:BHP,NYSE:BHP) , and Rio Tinto (ASX:RIO,NYSE:RIO,LSE:RIO) and Fortescue (ASX:FMG,OTCQX:FSUMF) are also large iron producers.

The Pilbara region is the most notable iron ore jurisdiction in Australia, if not the world. In fact, Rio Tinto calls its Pilbara Blend "the world’s most recognised brand of iron ore."

One of Rio Tinto's iron-producing operations in the Pilbara is the Hope Downs iron ore complex, a 50/50 joint venture with Gina Rinehart's Hancock Prospecting . The complex hosts four open-pit mines with an annual production capacity of 47 million metric tons.

In June 2025, the partners announced a combined investment of US$1.6 billion to develop the Hope Downs 2 iron ore project. It includes the Hope Downs 2 and Bedded Hilltop iron ore deposits, which together will have a total annual production capacity of 31 million metric tons.

As for BHP, the major iron miner's Western Australia Iron Operations joint venture comprise five mining hubs and four processing hubs. One such hub is Area C, which hosts eight open-cut mining areas alone. The company also has an operating 85 percent interest in the Newman iron operations.

2. Brazil

Usable iron ore: 420 million metric tons
Iron content: 260 million metric tons

In Brazil, iron production totaled 420 million metric tons of usable iron ore in 2025, a record high for the iron-rich country.

The largest iron ore districts in the country are the states of Pará and Minas Gerais , which together account for 98 percent of Brazil’s annual iron ore output. Pará is home to the largest iron ore mine in the world, Vale's (NYSE:VALE) Carajas mine. Headquartered in Rio de Janeiro, Vale is the world's biggest producer of iron ore pellets.

Vale announced plans in February 2025 to make significant investments in increasing its production at Carajas by 13 percent through 2030.

3. India

Usable iron ore: 310 million metric tons
Iron content: 190 million metric tons

India’s iron production for 2025 totaled 310 million metric tons of usable iron ore.

India’s largest iron ore miner, NMDC (NSE:NMDC) , operates the Bailadila mining complexes in Chhattisgarh state and the Donimalai and Kumaraswamy mines in Karnataka state. NMDC hit a production milestone in 2021 of 40 million metric tons per year, the first such company to do so in the country. NMDC is targeting an annual production rate of 100 million metric tons by 2030 .

4. China

Usable iron ore: 290 million metric tons
Iron content : 180 million metric tons

China's iron production amounted to 290 million metric tons of usable iron ore in 2025. The Asian nation is the world’s largest consumer of iron ore, despite being the fourth largest iron-producing country.

China's top producing iron ore mine is the Dataigou iron mine in Laioning province, with production of 9.07 million metric tons in 2023. The underground mine is owned by Glory Harvest Group Holdings.

With China being the world’s largest producer of stainless steel, its domestic supply is not enough to meet demand. The country imported 1.26 billion MT of iron ore in 2025.

5. Iran

Usable iron ore: 93 million metric tons
Iron content: 61 million metric tons

Iran surpassed 93 million metric tons in iron production in the form of usable iron ore in 2025. The country's iron output has been on the rise in recent years — now in fifth place, it was the sixth highest iron producer in 2024, the eighth highest in 2022 and the 10th in 2021.

One of Iran's most important iron ore mines is Gol-e-Gohar in Kerman province, which is also the country's top producer. During the March 2024 to January 2025 period, the country's major mining companies' combined iron pellet production reportedly increased by 7 percent year-over-year.

The country's iron mines are supplying its steel industry, which produced 32 million MT of steel in 2025.

In its 20 year roadmap released in 2005, the Iranian government had set an annual steel production target of 55 million MT by 2025. To better meet the requirements of domestic steel producers, Iran began levying a 25 percent duty on iron ore exports in September 2019. The exact rate has changed multiple times since, and in February 2024 the country cut duties on these products significantly.

6. Russia

Usable iron ore: 86 million metric tons
Iron content: 50 million metric tons

Russia's iron ore production came in at 86 million metric tons in 2025, making it the sixth largest iron-producing country in the world.

The region of Belgorod Oblast is home to two of the country's biggest iron ore producing mines: Metalloinvest's Lebedinsky GOK and Novolipetsk Steel's Stoilensky GOK. According to GlobalData, the mines produced an estimated 22.05 million MT and 19.56 million MT of iron ore in 2023 respectively.

Russia’s iron ore exports have fallen dramatically in recent years following its 2022 invasion of Ukraine, which led to serious economic sanctions on the country, including the European Union restricting imports of Russian iron ore. Its iron ore exports were valued at just US$1 billion in 2024 compared to US$3.84 billion in 2021 as its previous trade partners fell away, leaving China as the destination for the vast majority of its iron.

7. Canada

Usable iron ore: 69 million metric tons
Iron content: 41 million metric tons

Canada’s iron production totaled 69 million metric tons of usable iron ore in 2025. In June 2024, the Canadian government updated the nation's Critical Minerals List to include high-purity iron due to its role in green steel-making and decarbonization.

Champion Iron (TSX:CIA) is one company producing iron ore in Canada. It owns and operates the Bloom Lake complex in Fermont, Québec. Bloom Lake's annual capacity is currently 15 million metric tons of 66.2 percent iron ore concentrate. Champion is investing in upgrading half of its Bloom Lake mine capacity to a direct reduction quality pellet feed iron ore with up to 69 percent iron.

8. South Africa

Usable iron ore: 66 million metric tons
Iron content: 42 million metric tons

South Africa’s iron production was 66 million metric tons of usable iron ore in 2025. The country's output has declined significantly in the past few years, down from 73.1 million MT four years earlier. South Africa's mining industry is grappling with transport and logistics issues , most notably due to railway maintenance challenges.

Kumba Iron Ore is Africa’s largest iron ore producer. The company has three main iron ore production assets in the country, including its flagship mine, Sishen, which accounts for a large majority of Kumba’s total iron ore output. Anglo American (LSE:AAL,OTC Pink:AAUKF) owns a 69.7 percent share of the company.

?9. Ukraine

Usable iron ore: 52 million metric tons
Iron content: 32 million metric tons

Ukraine's iron production for 2025 was 52 million metric tons of usable iron ore. The metal represents a key segment of the country's economy, and Metinvest and ArcelorMittal (NYSE:MT) are the leading producers of iron ore in the nation.

Despite the ongoing war with Russia, Ukraine's iron ore mining industry has proved as resilient as the people, even though there have been temporary shutdowns. While 2025 was a difficult year, with iron ore exports decreasing by 8 percent to 30.99 million MT, this beat GMK Center's May 2025 prediction that "Ukraine’s iron ore exports will decline by about 20% y/y to 27 million tons (in 2025) from 33.6 million tons in 2024."

?10. United States

Usable iron ore: 38 million metric tons
Iron content: 24 million metric tons

The United States' iron production came in at 38 million metric tons of usable iron ore in 2025, landing the nation just inside this top 10 iron countries list. The majority of the US' iron is produced in Minnesota and Michigan.

The US' iron ore production decreased in 2025 from 45.1 million MT the year before as multiple mines in Minnesota were idled, according to the USGS.

Mesabi Metallics is currently constructing its direct-reduction grade iron ore mine and pellet plant in Nashwauk, Minnesota, which is on track to begin production in Q3 2026.

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Securities Disclosure: I, Lauren Kelly, hold no direct investment interest in any company mentioned in this article.