Abstract:

The relevance of the study is confirmed by the fact that iron ore deposits have been identified in 98 countries, and global forecast resources are estimated at 790.9 billion tons. Total iron ore reserves in the world are 464.24 billion tons; confirmed reserves are 206.9 billion tons. the three largest producing countries (China, Brazil, Australia) account for about 65% of global production. But the main leader in the world production of commodity iron ore is China. World consumption of commodity iron ore, including its own production, imports and exports, is distributed very unevenly across countries and is characterized in the leading countries by the following data: China 740 million tons, which is 46.8% of the world level, Japan-8.6%, Russia-5.7%.

The purpose of this study is to analyze the extraction of iron ore raw materials in the world as a type of economic activity. To achieve this goal, the following tasks were solved: to examine the industrial types of iron ore; to study the world's resources and reserves of iron ore; to identify the largest producers of iron ore raw materials; to systematize the factors that affect the growth of basic iron ore prices.The result of this study is the conclusions made on the basis of the analysis of the extraction of iron ore raw materials in the world as a type of economic activity.