Iron Ore
Chief executive, Iron Ore and Australia: Sam Walsh
We are the second largest producer supplying the global seaborne iron ore trade. After a decade of dramatic expansion in Australia, and more recent growth in both Australia and Canada, we believe we are well positioned to benefit from the continuing demand surge in China and other Asian markets. We are driving performance through effective project management and enhanced operational efficiency.
Products
Overview: Iron ore, salt
Iron ore
Iron is the key ingredient in the production of steel, one of the most fundamental and durable products for modern day living, with uses from railways to paperclips. Our mines are located in Australia and Canada.
Salt
Salt is one of the basic raw materials for the chemicals industry and is indispensable to a wide array of automotive, construction and electronic products, as well as for water treatment, food and healthcare.
Download the Iron Ore fact sheet
Operational highlights in 2010
| 2010 US$ million | 2009 US$ million | |
|---|---|---|
| Revenue | 24,024 | 12,598 |
| Operating cash flow | 15,915 | 7,389 |
| Underlying earnings (a) | 10,189 | 4,126 |
| Capital expenditure | 1,716 | 2,148 |
| Net operating assets | 11,628 | 11,263 |
Find out more on Iron Ore's performance results in the Annual report
(a) See note 2 and the Financial information by business unit section of the 2010 financial statements for a reconciliation of underlying earnings to net earnings.
- Market to remain tight for the short to medium term, with delays to new supply and strong demand driving prices.
- The Iron Ore group's strategy and performance will continue to be driven by the rapid urbanisation and industrialisation in China, and the steady recovery in other major Asian markets.
- India is expected to continue emerging as a major market as it follows China's lead in urbanisation. The group also remains confident in the longer term potential for other markets of South East Asia, Central Asia, the Middle East and Africa.
Fact sheets
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