China Still Far from Iron Ore Self-Sufficiency, Despite Years of Exploration

The Fortescue Solomon iron ore mine located in the Valley of the Kings in the Pilbara region of Western Australia. In 2020, more than 60 percent of China's iron ore imports came from Australia. David Gray/Reuters

As the world’s largest consumer of iron ore, China has long relied on imports as the country’s iron ore resources cannot meet its domestic demand.

According to public data from the U.S. Geological Survey, as of 2021, China’s uncovered iron ore resources, including raw and iron-bearing ore, are about 26.9 billion tons, accounting for 10 percent of global reserves.