The next major iron ore supplier is speculated to be Central and West Africa. Until recently, iron ore mining in Africa has seen South Africa at the forefront with Kumba Resources as the largest producer in the African iron ore mining industry. As traditional iron ore mining regions have not been adequately meeting Chinese demand, it has been posited that by 2015, China would import 50% of its iron ore from other Chinese mines as opposed to their usual reliance on Australia, Brazil and India. Read More
Iron Ore Company of Canada was founded in 1949 from a partnership of Canadian and American M.A. Hanna Company. It is now owned by a new consortium, including the Mitsubishi and Rio Tinto corporations.
Based in Montreal, Quebec, IOC currently has mining and concentrator operations in Labrador City, Newfoundland and Labrador, and operates the Quebec North Shore and Labrador Railway to ship ore concentrate from the mines to the port of Sept-Îles, Quebec.
During 1977 to 1983, the president of the company was Brian Mulroney, who later served as Canadian Prime Minister from 1984 to 1993.
The industry and market of Iron Ore is an investment in the long run no doubt. Because Iron Ore is a key commodity in steel making, anything that has to do with steel, such as the cars we drive and other ways of transportation, would not be possible without it. Read More
In the June quarter 2011, Australia’s iron ore production increased by 15 per cent, relative to the March quarter 2011, to 121 million tonnes. This was supported by an increase in production at several mines located in the Pilbara region including the ramp-up of production at Fortescue Metal Group’s Chichester Hub 40–55 million tonne expansion.
Reflecting an increase in production, iron ore export volumes in the June quarter increased by 13 per cent, relative to the March quarter, to 106 million tonnes. An increase in export volumes more than offset lower prices resulting in the value of iron ore exports in the June quarter increasing by 7 per cent quarter on quarter to $14.1 billion.
In 2010–11, iron ore production increased by 6 per cent to 450 million tonnes supported by increased production capacity in the Pilbara region. This was despite disruptions to production and exports caused by heavy rain in late 2010 and early 2011. The increase was supported by higher levels of production at several mines, including at Rio Tinto and BHP Billiton operations. Read More
Hematite, also spelled as haematite, is the mineral form of iron(III) oxide (Fe2O3), one of several iron oxides. Hematite crystallizes in the rhombohedral system, and it has the same crystal structure as ilmenite and corundum. Hematite and ilmenite form a complete solid solution at temperatures above 950 °C.
Hematite is a mineral, colored black to steel or silver-gray, brown to reddish brown, or red. It is mined as the main ore of iron. Varieties include kidney ore, martite (pseudomorphs after magnetite), iron rose and specularite (specular hematite). While the forms of hematite vary, they all have a rust-red streak. Hematite is harder than pure iron, but much more brittle. Maghemite is a hematite- and magnetite-related oxide mineral.
Huge deposits of hematite are found in banded iron formations. Grey hematite is typically found in places where there has been standing water or mineral hot springs, such as those in Yellowstone National Park in the United States. The mineral can precipitate out of water and collect in layers at the bottom of a lake, spring, or other standing water. Hematite can also occur without water, however, usually as the result of volcanic activity. Read More