
Forging global ties: BHP’s WAIO business and China’s steel market
Australia is the world’s largest iron ore exporter and producer, exporting 892mt of the mineral in 2023, more than double the second largest of Brazil. China is the world’s largest iron ore importer, with the country importing nearly 1.12bt in 2023, or around 76% of the world’s supply for that year. Making up 5% of the Earth’s crust, iron ores are rocks and minerals from which metallic iron can be extracted. Iron ore is the primary source for the world’s iron and steel industries, with almost all (around 98%) of iron ore used in the steelmaking process. Used across a range of industries – from cars and construction products to refrigerators and surgical tools – steel is the world’s most…






