Iron Ore Mining in Canada
Iron is a primary input in steel production, and performance in the Iron Ore Mining industry in Canada is closely tied to the strength of the global economy due to the widespread use of steel globally. As a result, trade is a significant part of the industry and global economic performance helps drive demand for the industry. Falling iron prices have resulted in profit margins being cut almost in half, making some mines unprofitable and forcing them to exit the industry. However, domestic production has steadily expanded due to investments from the industry's largest players. Over the five years to 2024, IBISWorld expects the Iron Ore Mining industry to experience short-term challenges, as slowing GDP growth in China will likely continue to keep downward pressure on world iron prices.
This industry mines iron ore and manganiferous ores valued primarily for their iron content. Companies in this industry also process ore into a concentrated or pellet form. This industry excludes blast furnace operations.
This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry key players and their market shares.
Learn how to effectively navigate the market research process to help guide your organization on the journey to success.Download eBook