In the first nine months of 2026, sixteen major mines have managed to increase their iron ore production by 23 million tons. Meanwhile, the four major mines including Rio Tinto, BHP, Fortescue, and Vale, accounted for only 0.6 million tons of this increase. The production increase is particularly due to the activities of the Onslow, Simandou, and NMDC mines in India.
Production and Growth of New Mines
The total production of the sixteen major mines has reached approximately 1,017 million tons, which is an increase of about 23 million tons compared to the same period last year. This production increase is mainly attributed to the activities of NMDC in India, which accounted for 8 million tons of this amount, while most of this quantity was sold domestically in India. Therefore, the increase in exports abroad has been nearly 15 million tons.
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The Onslow mine, with a production of 26.85 million tons in the first nine months of 2026, has seen an increase of 8.79 million tons or 48.7% compared to last year. This mine recorded a production high of 10.26 million tons in the third quarter of this year. Additionally, Simandou has managed to export 12.35 million tons in the same time frame, which is nearly no production compared to last year.
Decline in Production at Major Mines
Major mines have collectively produced only 827.5 million tons of iron ore in the first nine months of this year, which is just 0.6 million tons more than last year. Meanwhile, new mines have influenced production trends and clearly indicate changes in the market. The decline in production at major mines is particularly evident in Vale's northern system, which has experienced the largest drop this year with a decrease of 5.35 million tons.
Vale's mines, including Serra Norte and Serra Leste in the north, have faced reductions of 13.05 million tons and 5.66 million tons, respectively. These declines are primarily due to operational constraints and issues related to mine accessibility. Additionally, Fortescue and other major mines have also experienced slight reductions in their production.
Given the current trend, it seems that new mines, especially Onslow and Simandou, will play a larger role in meeting global market demand in the near future. In contrast, major mines will need to make improvements in their production and operational processes to maintain their position in this market.
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