11 Facts About Iron ore

1.

In 2011 the Financial Times quoted Christopher LaFemina, mining analyst at Barclays Capital, saying that iron ore is "more integral to the global economy than any other commodity, except perhaps oil".

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2.

Key parameters for magnetite ore being economic are the crystallinity of the magnetite, the grade of the iron within the banded iron formation host rock, and the contaminant elements which exist within the magnetite concentrate.

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3.

Currently magnetite iron ore is mined in Minnesota and Michigan in the U S, Eastern Canada and Northern Sweden.

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4.

Direct-shipping iron ore deposits are currently exploited on all continents except Antarctica, with the largest intensity in South America, Australia and Asia.

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5.

Two main methods of recycling iron from iron ore tailings are magnetizing roasting and direct reduction.

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6.

Lower-grade sources of iron ore generally require beneficiation, using techniques like crushing, milling, gravity or heavy media separation, screening, and silica froth flotation to improve the concentration of the ore and remove impurities.

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7.

The major constraint to economics for iron ore deposits is not necessarily the grade or size of the deposits, because it is not particularly hard to geologically prove enough tonnage of the rocks exist.

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8.

Mining iron ore is a high-volume, low-margin business, as the value of iron is significantly lower than base metals.

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9.

The world's largest producer of iron ore is the Brazilian mining corporation Vale, followed by Australian companies Rio Tinto Group and BHP.

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10.

Iron ore is the most abundant element on earth but not in the crust.

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11.

Typically, iron ore contains a host of elements which are often unwanted in modern steel.

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