The Global Iron Ore Agglomerate Market was valued at USD 208.5 Billion in 2025 and is projected to reach USD 281.7 Billion by 2034, growing at a Compound Annual Growth Rate (CAGR) of 3.4% during the forecast period (2024–2030). This growth is being driven by robust global steel demand, infrastructure development in emerging economies, and the accelerating adoption of high-grade and direct reduction pellets for more efficient and environmentally sustainable steelmaking.

As the steel industry transforms toward lower-carbon operations and enhanced efficiency, the spotlight is on the key mining and processing companies that are driving innovation, supply chain reliability, and cleaner production pathways. In this blog, we profile the Top 10 Companies in the Iron Ore Agglomerate Industry—a mix of global mining giants, specialized pellet producers, and regional leaders shaping the future of this critical raw material market.

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🔟 1. Vale S.A.

Headquarters: Rio de Janeiro, Brazil
Key Offering: Blast Furnace Pellets, Direct Reduction Pellets, Iron Ore Fines

Vale is one of the world’s largest producers of iron ore and pellets, operating a vast network of mines and pelletizing plants, primarily in Brazil. The company’s S11D complex is a benchmark for high-grade ore production, and its pellet portfolio is critical for blast furnace and direct reduction steelmaking routes globally.

Key Strategic Initiatives:

• Investment in high-grade pellet production to reduce steel industry carbon footprint

• Development of “green briquettes” technology as a potential future agglomerate

• Commitment to achieving net-zero Scope 1 and 2 emissions by 2050

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9️⃣ 2. Rio Tinto Group

Headquarters: London, United Kingdom / Melbourne, Australia
Key Offering: IOC pellets, Robe River lump and fines, SP10 pellets

Rio Tinto is a leading global mining group with significant iron ore operations in Australia and Canada. Through its Iron Ore Company of Canada (IOC) joint venture, it is a major supplier of pellets and concentrate to North American and European steel markets, known for its high-quality, low-impurity products.

Key Strategic Initiatives:

• Focus on producing high-grade pellets for direct reduction and electric arc furnace (EAF) routes

• Partnerships with steelmakers to develop low-carbon steelmaking technologies

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8️⃣ 3. BHP Group

Headquarters: Melbourne, Australia
Key Offering: Iron ore fines, lump ore, limited pellet production

BHP is a major global resources company, with its Western Australia Iron Ore (WAIO) operation being one of the world’s largest suppliers of iron ore. While primarily a supplier of fines and lump ore, BHP’s market dominance influences global agglomerate pricing and availability through its vast resource base and logistics network.

Key Strategic Initiatives:

• Strategic focus on volume and cost leadership in the seaborne iron ore trade

• Exploration of technologies to reduce emissions from steelmaking, influencing future agglomerate demand

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7️⃣ 4. ArcelorMittal

Headquarters: Luxembourg City, Luxembourg
Key Offering: Iron ore pellets (for captive use), sinter feed

As the world’s largest steelmaker outside China, ArcelorMittal is also a significant producer of iron ore agglomerates for its own extensive network of integrated steel plants. The company operates pellet plants in the Americas and Europe, ensuring a secure supply of critical raw materials for its blast furnaces.

Key Strategic Initiatives:

• Vertical integration strategy to control raw material costs and quality

• Pursuit of carbon-neutral steelmaking, driving internal demand for high-quality DR-grade pellets

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6️⃣ 5. LKAB

Headquarters: Luleå, Sweden
Key Offering: High-grade iron ore pellets (DR and BF grades), iron ore concentrates

LKAB is a leading European producer of highly refined iron ore products, specializing in pellets for the direct reduction (DR) and blast furnace (BF) markets. Its Kiruna and Malmberget mines in Sweden produce some of the highest-quality iron ore in the world, with very low phosphorous and other impurity levels.

Key Strategic Initiatives:

• Transition plan to become a carbon-free producer of iron ore pellets by 2045

• Development of hydrogen-based direct reduction technology (Hybrit initiative)

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5️⃣ 6. Ferrexpo plc

Headquarters: Zug, Switzerland (Operations in Ukraine)
Key Offering: High-grade iron ore pellets (65% Fe and above), pellet concentrate

Ferrexpo is the world’s third-largest exporter of pellets to the global steel industry, with its core operations located in Ukraine. The company is recognized for its high-quality product, with a significant portion of its output being high-grade (65% Fe) pellets, which command a premium in the market.

Key Strategic Initiatives:

• Focus on high-grade pellet production to maximize value and meet environmental demands

• Investment in pellet quality and logistics despite significant operational challenges

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4️⃣ 7. Metalloinvest

Headquarters: Moscow, Russia
Key Offering: HBI (Hot Briquetted Iron), iron ore pellets, concentrate

Metalloinvest is a leading Russian producer of HBI and iron ore pellets, with operations centered on the Lebedinsky and Mikhailovsky GOKs. It is one of the world’s largest HBI producers, a form of direct reduced iron that is a complementary product to high-grade pellets.

Key Strategic Initiatives:

• Expansion of HBI production capacity to serve the growing DRI market

• Focus on the development of its pelletizing capabilities to feed its HBI plants and external markets

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3️⃣ 8. Cleveland-Cliffs Inc.

Headquarters: Cleveland, Ohio, USA
Key Offering: Iron ore pellets (for captive use and merchant market), custom-made pellets

Following its acquisition of AK Steel and ArcelorMittal USA, Cleveland-Cliffs has become the largest flat-rolled steel producer in North America and a major producer of iron ore pellets. It operates several pelletizing plants in Michigan and Minnesota, supplying its own mills and the merchant market.

Key Strategic Initiatives:

• Vertical integration model ensuring low-cost iron ore supply for its steel operations

• Development of flux-fed pellets to improve blast furnace efficiency at its steel plants

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2️⃣ 9. NMDC Limited

Headquarters: Hyderabad, India
Key Offering: Iron ore lumps, fines, and initiatives in pellet production

NMDC is India’s largest iron ore producer, operating highly mechanized mines in Chhattisgarh and Karnataka. While traditionally a supplier of lumps and fines, the company is increasingly focusing on the pellet sector to add value to its resources and support India’s growing domestic steel industry, which relies heavily on pelletized feed.

Key Strategic Initiatives:

• Establishment of pellet plants to utilize iron ore fines and support ‘Make in India’ initiative

• Exploration and expansion to secure long-term raw material supply for the Indian steel sector

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1️⃣ 10. Bahrain Steel

Headquarters: Manama, Bahrain
Key Offering: Direct Reduction Pellets, Iron Ore Concentrate

Bahrain Steel is a strategic supplier of high-quality direct reduction pellets to the Middle East and North Africa (MENA) region’s growing DRI-based steel industry. The company operates a pelletizing plant in the UAE and benefits from its proximity to major gas-based DRI producers in the Gulf region.

Key Strategic Initiatives:

• Serving the specific needs of the MENA region’s DRI-EAF steelmaking route

• Strategic location and logistics optimization for regional supply chains

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Iron Ore Agglomerate Market – View in Detailed Research Report

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🏭 Outlook: The Future of Iron Ore Agglomerates Is Smarter and Greener

The iron ore agglomerate market is undergoing a fundamental transformation. While blast furnace pellets continue to dominate volume, the industry is investing significantly in high-grade and direct reduction pellets, advanced pelletizing technologies, and sustainable production methods to support the evolution of the global steel industry.

📈 Key Trends Shaping the Market:

• Accelerated demand for DR-grade pellets to feed hydrogen-based DRI plants

• Technological innovations in pelletizing for better quality and lower energy consumption

• Growing emphasis on utilizing iron ore fines stockpiles through agglomeration

• Strategic regional capacity expansions near emerging steel hubs in Asia and the Middle East

Get Full Report Here:
Iron Ore Agglomerate Market – View in Detailed Research Report

The companies listed above are not only supplying the backbone of global steel production—they’re pioneering the efficient and sustainable future of one of the world’s most vital industries.