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Iron ore
Iron ores are rocks and minerals from which metallic iron can be economically extracted.
The oresare usually rich in iron oxides and vary in colour from dark grey, bright yellow, or
deep purple to rusty red. The iron is usually found in the form of magnetite (Fe3O) , 72.4%
Fe), hematite (Fe2O.)

Ores containing very high quantities of hematite or magnetite (greater than about 60% iron)
are known as "natural ore" or "direct shipping ore", meaning they can be fed directly into
iron-making blast furnaces. Iron ore is the raw material used to make pig iron, which is one
of the main raw materials to make steel—98% of the mined iron ore is used to make
steel.[2] Indeed, it has been argued that iron ore is "more integral to the global economy
than any other commodity, except perhaps oil".
Metallic iron is virtually unknown on the surface of the Earth except as iron-
nickel alloys from meteorites and very rare forms of deep mantle xenoliths. Although iron is
the fourth most abundant element in the Earth's crust, comprising about 5%, the vast
majority is bound in silicateor more rarely carbonate minerals (for more information,
see iron cycle). The thermodynamic barriers to separating pure iron from these minerals are
formidable and energy intensive, therefore all sources of iron used by human industry
exploit comparatively rarer iron oxideminerals, primarily hematite.
Prior to the industrial revolution, most iron was obtained from widely
available goethite or bog ore, for example during the American Revolution and
the Napoleonic Wars. Prehistoric societies used laterite as a source of iron ore. Historically,
much of the iron ore utilized by industrialized societies has been mined from predominantly
hematite deposits with grades of around 70% Fe. These deposits are commonly referred to
as "direct shipping ores" or "natural ores". Increasing iron ore demand, coupled with the
depletion of high-grade hematite ores in the United States, after World War II led to
development of lower-grade iron ore sources, principally the utilization
of magnetite and taconite.
Iron-ore mining methods vary by the type of ore being mined. There are four main types of
iron-ore deposits worked currently, depending on the mineralogy and geology of the ore
deposits. These are magnetite, titanomagnetite, massive hematite and pisolitic ironstone
deposits.

Global iron ore market

The global iron ore market will remain well supplied up until 2027, thanks to expanding
output in Brazil and India, and to a slowdown in steel production in China, forecasts one
Fitch Solutions Global Iron Ore Supply and Demand Outlook report, published this week.
And in another report on the Iron Ore Mining Outlook, Fitch predicts global iron ore
production will grow due to mine expansions in Brazil and increasing output from India,
while output growth in China will decline on the back of falling ore grades and high cost of
production. Miners in China, operating at the higher end of the iron ore cost curve, may be
forced to cut output due to falling ore grades.

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According to the report, global iron ore production is expected to grow modestly from 3.3
billion tonnes in 2018 to 3.4 billion tonnes by 2027, representing an average annual growth
of 0.5% during 2018-2027— a significant drop from an average growth of 5% during 2008-
2017.
Deposits of iron ore in the world
1. China
China now emerged as a leading iron ore-producing country in the world. Till 1975, its
production of iron ore in the world was only 6.5 per cent, but in year 2000, China produced
24.3 per cent iron ore of the world. This percentage further increased to 30.77 in year 2006-
07, accordingly China is now first in iron ore production in the world.
2. Baranzil
Brazil is the world’s second largest iron ore-producing country contributing 17.75 per cent of
the world’s total production. Till 1975 its percentage in world production of iron ore was
9.2. The main iron ore-producing areas are located in Itabiria in south-east Brazil. Itabiria is
believed to be the richest iron ore reserves in the world – estimated reserves of 35,000
million metric tons.
3. Australia
Australia produced 270 million metric tons of iron ore in 2007 and ranks third in world
production with 15.98 per cent production. Australia has widely distributed iron ore
deposits and reserves which are very large.
4. India
India is the fourth largest producer of iron ore in the world. On an average, India produces
about 7 per cent of the world production. It has about 2.6 per cent iron ore reserves of the
world.
5. Russia
The undivided USSR was the leading iron ore-producing country in the world. As shown in
Table 8.1, in 1960 and 1975, the production of USSR was 21.2 and 25.4 per cent respectively
of the world. But, in 2000 and 2006, it was 6.3 and 6.21 per cent respectively. Now, Russia
ranks fifth in iron ore-producing countries of the world. The yearly production of Russia is
about 105 million metric tons.
6. USA
Once USA was the highest iron ore-producing country of the world. As indicated in Table
8.1, the percentage of world production of iron ore was 18.1 in 1960 and 9.8 in 1975. But
now it produces less than 4 per cent of the world’s production and ranks 7th. The four main
iron ore-producing regions of USA are Lake Superior region, north-eastern region, south-
eastern region and western region.
7. South Africa
South Africa emerged as a leading iron ore-producing country of the African continent and
ranks 8th in the world iron ore production. In South Africa Transvaal is the main iron ore-
producing centre.

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Deposits of iron ore in Pakistan

Mining is an important industry in Pakistan. Pakistan has deposits of several minerals
including coal, copper, gold, chromite, mineral salt, bauxite and several other minerals.
There are also a variety of precious and semi-precious minerals that are also mined. These
include peridot, aquamarine, topaz, ruby, emerald, rare-earth minerals bastnaesite and
xenotime, sphene, tourmaline, and many varieties and types of quartz .
The Pakistan Mineral Development Corporation is the responsible authority for the support
and development of the mining industry. Gemstones Corporation of Pakistan looks after the
interests of stake holders in gemstone mining and polishing as an official entity. Baluchistan
province is the richest in mineral resources available in Pakistan. While
recently Sindh discovered coal deposits in Thar. Khyber Pakhtoonkhwa is rich in gems. Most
of the mineral gems found in Pakistan exist here. Apart from oil, gas and some mineral used
in nuclear energy purposes which comes directly under federal control mining of other
minerals is provincial issue. Currently around 52 minerals, are mined and processed in
Pakistan.
Iron Ore
Iron ore is found in various regions of Pakistan including Nokundi, Chinot and the largest
one in Kalabagh (Less than 42% quality), Haripur and other Northern Areas.
11 February, 2015 The reserves were found in Chiniot, around 160 kilometres northwest of
Lahore, by Chinese group the Metallurgical Cooperation of China. A senior provincial
administrative official told AFP that initial estimates indicated 500 million tonnes of iron ore,
a primary ingredient in steel making, had been discovered.The extracted iron had been
tested in Swiss and Canadian laboratories, whichwere successful in finding 60-65 percent of
it to be high grade.

World reserves of iron ore as of 2017, by country (in million metric tons)

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