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Print[Ferro-Alloys.com] Albanian Minerals expect that China's domestic iron ore mining to rise to 1.35 billion tonnes in 2012 and the global iron ore production to increase 3 billion tonnes up from 2.7 billion tons in 2011.
Albanian Minerals expect that iron ore demands in China to increase to 1.8 billion tons in 2012 and 2 billion tons in 2013. China consumes over 60% of the world's entire iron ore supplies.
China's Ministry of Land and Resources has announced proven iron ore reserves amounted to 50 billion tons in 2010, this will be enough for only 25 years at the consumption rate.
China's domestic iron ore output was higher than 110 million tonnes per month in 2012. China's rapid urbanization and industrialization has resulted in strong demand for iron and steel products. China is also one of the largest steel products exporting countries, domestic demand for iron ore is substantial.
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