II. Fundamental analysis of key industries

Global distribution of basic raw materials

Minerals

According to the Mineral Commodity Summaries 2015 published by the United States Geological Survey (USGS), the global production and reserves of 12 minerals arc as follows as of the end of 2014.

Iron ore

The total amount of iron ore exceeds 800 billion tons in the world. There arc 230 billion tons of total iron, and 190 billion tons of reserve. Up to 87 billion tons of total iron are mainly distributed in Australia (27.9%), Brazil (16.32%), Russia (13.16%), China (12.11%) and India (4.27%), and the total of these countries accounts for 73.76% of the total global reserves. Specifically, highgrade iron orc deposits total 140 billion tons and are mainly distributed in Australia, Brazil, Russia, Ukraine, India, Sweden and South Africa (Table 5.1).

Vale SA (Brazil), Rio Tinto (United Kingdom), BI IP Billiton (Australia), and Fortescue Metals Group Ltd. (Australia) arc the world’s top four iron ore companies. In 2014, these four companies contributed 47% of the global iron production and 65% of the global trade volume.

Manganese

Global proven reserves of manganese total 570 million tons, which arc mainly distributed in South Africa (26.32%), Ukraine (24.57%), Australia (17.02%), Brazil (9.47%), India (9.12%) and China (7.72%). The total reserves of these countries account for 94.22% of the global total (Table 5.2).

At present, manganese production concentrates mainly in the world’s top five manganese orc companies, i.c. BI IP Billiton (Australia), OM Holdings Limited (registered in Bermuda), Assmang (South Africa), Eramet-Comilog (Gabon) and Vale SA (Brazil). In 2013, the total manganese orc production of these five companies was about 40% of the global total.

Table 5.1 Iron ore production and reserves of major countries in 2014 (Unit: 100 million tons)

Country

Production

Reserves

2013

2014

Crude ore

Content

United States

0.53

0.58

69

21

Australia

6.09

6.6

530

230

Brazil

3.17

3.2

310

160

Canada

0.43

0.41

63

23

China

14.5

15

230

72

India

1.5

1.5

81

52

Iran

0.5

0.45

25

14

Kazakhstan

0.26

0.26

25

9

Russia

1.05

1.05

250

140

South Africa

0.72

0.78

10

6.5

Sweden

0.26

0.26

35

22

Ukraine

0.82

0.82

65

23

Other countries

1.27

1.31

180

95

Global total

31.1

32.2

19,000

8,700

Source: Mineral Commodity Summaries 2015.

Table 5.2 Manganese production and reserves of major countries in 2014 (Unit: 10,000 tons)

Country

Production

Reserves

2013

2014

Australia

298

310

9,700

Brazil

112

110

5,400

Myanmar

15.7

20

-

China

300

320

4,400

Gabon

197

200

2,400

Ghana

53.3

54

India

92

94

5,200

Kazakhstan

39

39

500

Malaysia

43

44

-

Mexico

21.2

22

500

South Africa

430

470

15,000

Ukraine

30

30

14,000

Other countries

59.7

65

Trace

Global total

1,690

1,800

5,700

Source: Mineral Commodity Summaries 2015.

Table 5.3 Production and reserves of potassium salts of major countries in 2014 (Unit: 10,000 tons)

Country

Production

Reserves

2013

2014

Pay ore

Potassium oxide équivalent

United States

96

85

170,000

20,000

Belarus

424

430

330,000

75,000

Brazil

43

35

30,000

5,000

Canada

1010

980

470,000

110,000

Chile

105

110

NA

15,000

China

430

440

NA

21,000

Germany

320

300

NA

15,000

Israel

210

250

NA

4,000

Jordan

108

110

NA

4,000

Russia

610

620

280,000

60,000

Spain

42

42

NA

2,000

United Kingdom

47

47

NA

7,000

Other countries

15

25,000

9,000

Global total

3450

3500

1,305,000

350,000

Source: Mineral Commodity Summaries 2015.

Potash

At present, potassium salt resource is abundant in the world. More than 30 potash mineralization basins have been found. Most of them produce underground solid potassium salts, and some produce potassium-bearing brine. The global potash resources total 7 billion tons, and the proven reserve of potassium salts totals about 3.5 billion tons. However, the distribution of potassium salt resources is extremely unbalanced in the world, concentrating mainly in Canada (31.43%), Belarus (21.43%), Russia (17.15%), China (6%), the United States (5.72%), Chile (4.29%) and Germany (4.29%). The total reserves of these seven countries account for more than 87% of the total global reserves of potash resources (Table 5.3).

The world’s leading potash producers include PotashCorp (Canada), Uralkali (Russia), Intrepid Potash (the largest producer of potassium chloride in the United States) and Arabian Potash Company (APC) (Jordan).

 
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