[SMM News] US Geological Survey: Kazakhstan leads the world in chromite mining and reserves

SMM12, March 19: recently, according to the United States Geological Survey, Kazakhstan is one of the world's leading countries in chromite mining and reserves. The country is the third largest producer of chromite, producing 4.6 million tons in 2018. South Africa and Turkey are the largest and second largest, respectively, with 16 million tons and 6.5 million tons, respectively.

However, Kazakhstan ranks first in chromite reserves, with 230 million tons, followed by South Africa (200m tons) and India (100m tons). The country produced 4.1 million tons in the first seven months of 2018, up 5.7 per cent from 3.9 million tons in the same period in 2017. Chromium concentrate production rose 5.3 per cent to 2.9 million tons this year, compared with 2.8 million tons in the same period last year. Total sales increased by 7.4% a year to 1.6 million tons. Sales of high-carbon ferrochromium reached 1.4 million tons, an annual increase of 9.1 percent.

The survey points out that ferrochromium is mainly used in the production of stainless steel, and the higher sales volume directly reflects the changes in market conditions and demand. Demand for ferrochromium for stainless steel will increase as a result of continued urbanization and economic development in China, India and other emerging countries, according to analysts.

At the same time, the growth of chromium ore supply will be limited in the medium term and will face a shortage by 2020, and the main price increase is expected to affect the growth of chromium ore and ferrochromium.

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