Iron Ore Mining in the US to 2020

The US had the sixth-largest global reserves of iron ore at 6.9 billion tonnes (Bt) in January 2015, accounting for 3.6% of global total, with the majority of it found in the Mesabi Iron Ore Range in Minnesota and in Arizona and Texas. Majority of the country's iron ore production originated from Minnesota and Michigan which together accounted for around 99% of total iron ore output in the US.

Scope

The report provides information on the US iron ore reserves, a description of the major deposits, historic and forecast iron ore production and production by form together with the demand drivers affecting the industry, trade (export), historic and forecast consumption, major iron ore producing companies, active, exploration and development projects and the fiscal regime governing the US mining industry.

Key Highlights

• The US had the sixth-largest global reserves of iron ore at 6.9 billion tonnes (Bt) as of January 2015, accounting for 3.6% of global total, with the majority of it found in the Mesabi Iron Ore Range in Minnesota and in Arizona and Texas.

• The US was the third-largest crude steel producer in the world at 88.3Mt in 2014. Increasing demand from the construction and automotive sectors were a major attributing factor for increase in steel production in 2014.

• The construction industry is the major demand driver for steel, accounting for 40% of total steel consumption in 2014. Automobile production is the second-largest steel consuming sector in the US after the construction industry, accounting for 26% of total steel consumption in 2014.

Reasons to buy

Gain an understanding of the US iron ore mining industry, the relevant demand drivers, reserves, historic and forecast production, production by form, production forecast by selected mines, historic and forecast consumption, trade, active, exploration and development projects, the major iron ore producing companies and the country's fiscal regime.

Companies mentioned

Cliff Natural Resources Inc.

United States Steel Corporation

ArcelorMittal USA LLC

Table of Contents

1 Executive Summary

2 Iron Ore Mining in the US – Reserves, Production, Consumption and Trade

2.1 Reserves by Location

2.1.1 Iron Ore deposits in the Mesabi Range

2.1.2 Iron Ore deposits in Marquette Iron Range

2.1.3 Iron Ore deposits in Texas

2.1.4 Iron Ore deposits in Arizona

2.2 Historical and Forecast Production

2.2.1 Total production by form – fines and lumps

2.2.2 Historical and forecast production of select iron ore mines

2.2.3 Iron ore production by state

2.3 Active Mines

2.4 Exploration and Development Projects

2.5 Domestic Consumption vs. Ores and Concentrates Exports

2.5.1 Domestic consumption vs trade

2.5.2 Exports by country

2.6 Demand Drivers

2.6.1 Increasing steel production

3 Major Iron Ore Producers in the US

3.1 Cliff Natural Resources Inc.

3.2 United States Steel Corporation

3.3 ArcelorMittal USA LLC

4 Fiscal Regime

4.1 The US Mining Industry – Federal Governing Bodies

4.1.1 US Department of the Interior

4.1.2 Bureau of Land Management

4.1.3 Office of Surface Mining Reclamation and Enforcement

4.1.4 Mine Safety and Health Administration

4.1.5 Federal Mine Safety and Health Review Commission

4.1.6 Department of Energy

4.1.7 Nuclear Regulatory Commission

4.1.8 Environmental Protection Agency

4.2 The US Mining Industry – State Governing Bodies

4.2.1 Office of Geological Survey

4.2.2 Minnesota – Department of Natural Resources

4.2.3 Alaska – Department of Natural Resources

4.2.4 Idaho – Department of Lands

4.2.5 Missouri – Department of Natural Resources

4.2.6 Tennessee – Department of Environment & Conservation

4.3 The US Mining Industry – Federal Laws

4.3.1 Surface Mining Control and Reclamation Act

4.3.2 Other laws

4.3.3 The Mining Law, 1872

4.3.4 Federal Mine Safety and Health Act (1977)

4.3.5 Federal Land Policy and Management Act (1976)

4.3.6 National Environmental Policy Act, 1969

4.4 The US Mining Industry – State Laws

4.4.1 Minnesota Mining Laws (1998)

4.4.2 Natural Resources and Environment Protection Act, 1994 PA 451

4.4.3 Alaska

4.4.4 Idaho

4.4.5 Tennessee

4.4.6 Missouri

4.5 The US Mining Industry – Mining Ownership, Licenses

4.5.1 Issuance

4.5.2 Area

4.5.3 Term

4.5.4 Exploratory license

4.6 State Permits

4.6.1 Michigan metallic mineral mining permit

4.6.2 Minnesota metallic mineral mining permit

4.6.3 Location certificate

4.6.4 Operating permit

4.6.5 Mining permit

4.6.6 Source material license

4.7 The US Mining Industry – Rights and Obligations

4.7.1 Rights

4.7.2 Obligations

4.8 The US Mining Industry – Key Fiscal Terms

4.8.1 Bonus

4.8.2 Rentals

4.8.3 Federal reclamation fee

4.8.4 Occupation tax

4.8.5 Mining claim fees

4.8.6 State Fee – Tennessee

4.8.7 State mineral resources severance tax and fee

4.8.8 State real property tax

4.9 Corporate Taxes

4.9.1 Federal income tax

4.9.2 State real property tax

4.10 Corporate Taxes

4.10.1 Federal income tax

4.10.2 State corporate tax rate

4.10.3 Alternative minimum tax

4.10.4 Capital gains tax

4.11 Deductions and Allowances

4.11.1 Tax deductions

4.11.2 Depletion allowance

4.11.3 Depreciation

4.11.4 Branch profit tax

4.11.5 Withholding tax

4.11.6 Loss carry forward

4.11.7 Value added tax

5 Appendix

5.1 Abbreviations

5.2 Bibliography

5.3 Secondary Research

5.4 Primary Research

5.5 Contact GlobalData

5.6 About GlobalData

5.7 GlobalData’s Services

5.8 Disclaimer

List of Tables

Table 1: Iron Ore Mining in the US – Iron Ore Production (Million Tonnes), 2000–2020

Table 2: Iron Ore Mining in the US – Production by Fines and Lumps (Million Tonnes), 2000–2020

Table 3: Iron Ore Mining in the US – Historic and Forecast Iron Ore Production by Selected Mines, (Million Tonnes), 2013–2020

Table 4: Iron Ore Mining in the US – Active Mines, 2015

Table 5: Iron Ore Mining in the US – Exploration Projects, 2015

Table 6: Iron Ore Mining in the US – Development Projects, 2015

Table 7: Iron Ore Mining in the US – Iron Ore Consumption vs Ores and Concentrates Exports (Million Tonnes), 2000–2020

Table 8: Iron Ore Mining in the US – Export by Country (Million Tonnes), 2014

Table 9: Iron Ore Mining in the US – Cliff Natural Resources Inc., Major Projects, 2015

Table 10: Iron Ore Mining in the US – United States Steel Corporation, Major Projects, 2015

Table 11: Iron Ore Mining in the US – ArcelorMittal USA LLC, Major Projects, 2015

Table 12: The Mining Industry in the US – Minnesota Occupation Tax Rates (%), 2014

Table 13: The Mining Industry in the US – Mining Claim Fees (US$), 2014

Table 14: The Mining Industry in the US – Tennessee Mining Fees (US$), 2014

Table 15: The Mining Industry in the US – Alaska Mining Tax on Net Income (%), 2014

Table 16: The Mining Industry in the US – Montana Coal Severance Tax (%), 2014

Table 17: The Mining Industry in the US – Nevada Mineral Resources, Net Proceeds Tax Rates (%), 2014

Table 18: The Mining Industry in the US – Montana Coal Severance Tax (%), 2014

Table 19: The Mining Industry in the US – Nevada Mineral Resources, Net Proceeds Tax Rates (%), 2014

Table 20: The Mining Industry in the US – State Federal Income Tax Rates (%), 2014

Table 21: The Mining Industry in the US – State Corporate Income Tax Rates (%), 2014

Table 22: The Mining Industry in the US – Alaska State Corporate Income Tax Rates (%), 2014

Table 23: The Mining Industry in the US – Arkansas State Corporate Income Tax Rates (%), 2014

Table 24: The Mining Industry in the US – Kentucky State Corporate Income Tax Rates (%), 2014

Table 25: The Mining Industry in the US – Louisiana State Corporate Income Tax Rates (%), 2014

Table 26: The Mining Industry in the US – Mississippi State Corporate Income Tax Rates (%), 2014

Table 27: The Mining Industry in the US – New Mexico State Corporate Income Tax Rates (%), 2014

Table 28: The Mining Industry in the US – North Dakota State Corporate Income Tax Rates (%), 2014

Table 29: The Mining Industry in the US – Percentage Mineral Depletion Rates (%), 2014

List of Figures

Figure 1: Iron Ore Mining in the US – Value of Non-fuel Mineral Production by State (US$ Million), 2014

Figure 2: Iron Ore Mining in the US – Reserves of Iron Ore in the US and Selected Other Countries (%), 2015

Figure 3: Iron Ore Mining in the US – Location of Iron Ore Deposits in Mesabi Range

Figure 4: Iron Ore Mining in the US – Location of the Marquette Iron Range

Figure 5: Iron Ore Mining in the US – Location of Iron Ore Deposits in Arizona

Figure 6: Iron Ore Mining in the US – Iron Ore Production (Million Tonnes) vs Price, 2000–2020

Figure 7: Iron Ore Mining in the US – Production by Fines and Lumps (Million Tonnes), 2000–2020

Figure 8: Iron Ore Mining in the US – Historic and Forecast Iron Ore Production by Selected Mines, (Million Tonnes), 2013–2020

Figure 9: Iron Ore Mining in the US – Iron Ore Consumption vs. Ores and Concentrates Exports (Million Tonnes), 2000–2020

Figure 10: Iron Ore Mining in the US – Export by Country (%), 2014

Figure 11: Iron Ore Mining in the US – Crude Steel Production in the US (Million Tonnes), 2010–2020

Figure 12: Iron Ore Mining in the US – Steel Consumption by End-Use Sector (%), 2014

Figure 13: Iron Ore Mining in the US – Share of the Construction Industry by Type (%), 2013

Figure 14: Iron Ore Mining in the US – Construction Output by Project Type (US$ Million), 2009–2018

Figure 15: Iron Ore Mining in the US – Automobile Production in the US (Million Units), 2007–2018

Figure 16: Iron Ore Mining in the US – Iron Ore Production by Major Producers (%), 2013

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