Iron Ore

Iron is one of the most frequent elements in earth’s crust, attributing to about 5%. Approximately, 98% of extracted iron is utilized for production of carbon steels.

Iron ores existing across different points of globe, consists of iron oxides. The well-known iron ore are namely as Hematite (72% Fe), Goethite (63% Fe), Limonite (>60% Fe) and Magnetite (72% Fe).

The most pronounced iron deposits are in the form of sedimentary rocks, known as banded iron formation (BIF). BIF can be tracked though all worldwide continents, formed about 541 million years ago. These rocks serve as the dominant reserves for iron ore excavation, representing the main resources for producing iron concentrate. The principle producers of iron ore are Australia, Brazil, China, Russia and India.

The worldwide total reserves of iron ore was estimated to 185 billion tons at the beginning of 2016. Australia, possessing the largest iron ore deposits, totals 54 billion tons (about 30% of entire world). Russia (25 billion tons), Brazil and China (each 23 billion tons), United States (11 billion tons), and India (8 billion tons) holds the next largest iron ore reserves, respectively.

Total discovered of Iran’s deposits by 2015 approximates 5.1 billion tons, of which 2.7 billion tons is proven. Overall Iran’s capacity of iron ore production has been estimated 66 million tons. The subsidiaries of IMIDRO facilitated about 46 million tons in 2015. Due to lack of sufficient value chain of steel in Iran, and current volatile global economy, iron ore is overproduced in Iran. The oversupplied iron ore is mainly exported to aboard. Iron ore exportation was approximated 13 million tons in 2015.

 
 

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