The state-of-the art and prospects of the iron ore industry development in conditions of «bear market»

I.I. Pomelnikov

The article discusses opportunities of iron ore output progress in Australia, Brazil, India, China and Russia, as these countries are the world leading iron ore producers and the largest possessors of iron ore reserves. The author has performed the analysis of such factors having an effect on the formation of the world iron ore market prices as iron ore supply and demand patterns, iron ore stocks, production costs, etc.

The estimates are presented of the 2008–2009 economic crisis effect on the performance of iron ore companies in Russia, their state-of-the art and individual opportunities of development in conditions of the current sanctions against Russia. The author also dwells on some outstanding problems of the iron ore industry environmentally feasible modernization based on the philosophy of the best available technologies.


Key words: iron ore raw materials, productive capacities, export!import transactions, reserves, prices, production costs, best available technologies

Mining Industry Journal №4 (122) 2015, p.28