Review shows WA is world's largest exporter of iron ore for 4th consecutive yr

30/3/98

For the fourth consecutive year, Western Australia is the world's largest exporter of iron ore, with more than 152 million tonnes of ore worth $3.6 billion being shipped to steel makers around the world last year.

During the year, the State produced 15 per cent of the world's iron ore, representing 36 per cent of global seaborne trade in the mineral. More than 77 per cent (or 117 million tonnes) of WA iron ore shipments went to Asian steel makers, while the State's market share in China, Taiwan and Japan increased significantly.

These details, as well as an overview of mining areas, producer profiles, downstream processing and future opportunities for the industry are contained in the latest edition of the Western Australian Iron Ore Industry Review, released today by Resources Development Minister Colin Barnett.

Mr Barnett said a number of challenges faced Western Australian iron ore producers hoping to increase their share of the expanding Asian market. These included the development of new generation iron ore mines and associated infrastructure, the development of tailor-made products such as HBI, DRI, pellets and blended ores for discerning customers abroad.

"WA's iron ore producers are well positioned to meet expected growth from the development of brownfield iron ore expansions," Mr Barnett said.

"This includes Hamersley Iron's commitment to its Yandicoogina project late last year, together with the potential development of BHP's Mining Area C, Robe River's West Angelas and Hancock/Iscor's Hope Downs which, collectively, would ensure the long term future of the industry in this State."

Mr Barnett said significant opportunities also existed with the downstream processing of iron ore in the State, including DRI and iron pellet plants for the Pilbara and Mid West areas.

He said the momentum for iron ore downstream processing in WA started when BHP undertook to develop a $2 billion direct reduced iron plant just south of Port Hedland in late 1995. Production from the plant will further lift Western Australia's status in world iron and steel markets after the plant is commissioned at the end of 1998.

Copies of the Western Australian Iron Ore Industry Review can be obtained by contacting the Department of Resources Development on (08) 9327 5555.

Media contact: Justine Whittome, Minister's office, (08) 9222 9699

Matthew Coomber, DRD, (08) 9327 5555