Iron – Current situation

Iron ore is the most extracted and produced metal commodity worldwide. Global production in 2019 was 2.4 billion tonnes (Bt) of iron ore compared to 1.3 Bt in 2010. Iron is used in all sectors of the construction industry (building, infrastructure, transport, automobile, etc.), and mining companies must compete with each other worldwide.

In 2017, Canada was the 9^th largest iron ore producer with just under 2% of the world market. During that same year, Canadian iron mines produced 47 Mt of ore from deposits primarily in Quebec (51%), Labrador (44%) and Nunavut (5%). In Quebec and Labrador, the deposits are found in the Labrador Trough and down through the Grenville geological province.