African countries, Mauritania and Guinea increase iron ore production

Mauritania and Guinea, which are African countries after Australia and Brazil, are planning to increase their iron ore production. The increase in iron ore supply and the decrease in demand lead to the possibility of a $ 50-60 decrease in iron prices in the next 5 years. With its annual production of 24 million tons, Mauritania aims to surpass Turkey as the country that produces the most iron in the list of 20 countries. On the other hand, the Algerian Gara Djebilet is one of the world's largest iron ore reserves, produces 3.5 billion tons of iron ore annually and planned to obtain 1.7 billion tons from this figure.  According to the plans, Algeria is expected to produce 40-50 million tons of iron ore in 2026. In this case, it is planned to supply 500,000 tons of iron ore annually with China.

On the other hand, Guinea's production is expected to produce 150 million tons of iron annually by renegotiating with Australian and Singapore mining companies.