The iron ore mining turnover in Spain experienced fluctuations over the last decade, with notable variances in the year-on-year percentages. From 2014 to 2016, the industry saw a downturn leading to the lowest value in 2016. A significant recovery occurred in 2017, followed by a sharp increase in 2019. However, 2020 experienced a considerable decline, likely impacted by external global factors. The subsequent years showed recovery and growth, with a marked increase in 2021 and 2022. In 2023, the turnover reached 13.2 million Euros, signifying a robust growth pattern. The average annual growth (CAGR) from 2019 to 2023 was approximately 14.87%.
Looking forward, the forecast suggests continued steady growth in iron ore mining turnover from 2024 onwards with a projected 4.12% CAGR over the next five years, culminating in an expected turnover of 17.5 million Euros by 2028.
Future trends to watch for include the impact of technological advancements in mining processes, fluctuations in global iron ore prices, and environmental regulations which could influence the cost structure and profitability of iron ore mining operations in Spain.
