Day Trading Reports
  • Business
  • World News
  • Politics
  • Investing
  • Business
  • World News
  • Politics
  • Investing

Day Trading Reports

Investing

Types of Iron Ore: Hematite vs. Magnetite

by admin February 5, 2025
February 5, 2025
Types of Iron Ore: Hematite vs. Magnetite

Knowing about the different types of iron ore is useful for investors interested in the space.

Iron, a key material in steel and other applications, is most often found in hematite and magnetite ores, though goethite, limonite and siderite ores are also common sources of iron ore.

What is hematite ore?

Hematite ore, also called direct-shipping ore, has naturally high iron content suitable for steelmaking. Because of its high iron content, hematite ore must undergo only a simple crushing, screening and blending process before being shipped off for steel production. For that reason, hematite ore is important for many mining companies.

Hematite ore is found throughout the world, with major production hotspots being Australia, Brazil, China and India.

In Australia, hematite has been the primary type of iron ore mined since the early 1960s. Nearly all of Australia’s iron ore exports are high-grade hematite ore, and the majority of its reserves are located in the Hamersley mountain range of Western Australia because the range sits on a banded iron formation.

BHP (ASX:BHP,LSE:BHP,NYSE:BHP) is Australia’s leading iron ore producer and has several mining and processing hubs in Western Australia. Rio Tinto (ASX:RIO,LSE:RIO,NYSE:RIO) is also a major iron ore producer in the country, especially in the Pilbara region. One of its key iron producing operations is the Hope Downs iron ore complex, a 50/50 joint venture with Gina Rinehart’s Hancock Prospecting.

Brazil is another of the world’s main sources of hematite ore. The country’s Carajás mine, operated by major miner Vale (NYSE:VALE), is the largest iron ore mine in existence. Vale consistently ranks among the world’s five largest mining companies and is the world’s biggest producer of iron ore pellets. Its primary iron ore assets are in the Iron Quadrangle region of Brazil’s Minas Gerais state.

A great deal of hematite ore is also mined in China. Known reserves include the Tung-Yeh-Chen and Dongye hematite ore deposits.

What is magnetite ore?

Mishainik / Adobe Stock

The mineral magnetite is a highly magnetic mineral found in solid and crystal forms. Magnetite actually has higher iron content than hematite. However, while hematite ore generally contains large concentrations of hematite, magnetite ore tends to hold low concentrations of the mineral magnetite. As a result, this type of iron ore ore must be concentrated before it can be used to produce steel. Magnetite ore’s magnetic properties are helpful during this process.

Magnetite ore may require more treatment than hematite ore, but end products made from magnetite ore are typically of higher quality than those made from hematite ore. That’s because magnetite ore has fewer impurities than hematite ore; in this way, the elevated cost of processing it can be balanced out.

Magnetite ore is currently mined in Minnesota and Michigan in the US, as well as in taconite deposits in Eastern Canada. A major mining site in Michigan is the Marquette Range, which hosts four types of iron ore deposits, including both magnetite and hematite ore.

In Minnesota, magnetite ore is mined mainly in the Mesabi Range, one of the four ranges that make up the state’s Iron Range. Cleveland-Cliffs (NYSE:CLF) is a major player in the magnetite ore industry and the largest iron ore pellet producer in North America. Its Hibbing Taconite joint venture in Minnesota’s Mesabi Range has an annual capacity of around 7 million metric tons of magnetite ore.

In Canada, many mining companies focus on exploration and development in the iron-rich Labrador Trough, which runs through parts of the provinces of Québec and Newfoundland and Labrador.

Securities Disclosure: I, Melissa Pistilli, hold no direct investment interest in any company mentioned in this article.

This post appeared first on investingnews.com

previous post
High Grade discoveries with enriched MREOs at Agostinho highlight Caldeira’s scale
next post
Rare Earths Reserves: Top 8 Countries

Related Posts

Green River Gold Corp. Announces an Expansion into...

January 25, 2025

Crypto Market Recap: Bitcoin Stages a Comeback as...

April 11, 2025

i-80 Gold Releases PEAs for Cove and Archimedes...

February 22, 2025

Crypto Market Recap: Bitcoin to Hold “Special Status”...

March 6, 2025

Basin Expands Geikie Athabasca Uranium Project

April 2, 2025

5 Canadian Potash Stocks

February 12, 2025

Brunswick Continues to Intersect Lithium Mineralization on Globex’s...

April 26, 2025

Types of Copper Deposits in the World

March 1, 2025

Hempalta Corp. Announces Financial Results for Three Months...

March 4, 2025

Christopher Aaron: Key Ratio Now in Gold’s Favor,...

April 8, 2025

    Become a VIP member by signing up for our newsletter. Enjoy exclusive content, early access to sales, and special offers just for you! As a VIP, you'll receive personalized updates, loyalty rewards, and invitations to private events. Elevate your experience and join our exclusive community today!


    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    Editors’ Picks

    • 1

      Forum Energy Metals and Global Uranium Announce Exploration Update on Drill Targeting, Northwest Athabasca Project, Saskatchewan

      January 31, 2025
    • 2

      Mega M&A: Rio Tinto-Glencore Merger Sparks Chatter

      January 28, 2025
    • 3

      Excellent 90% recoveries at Cork Tree Well & Board Update

      February 17, 2025
    • 4

      Financial Agreement signed releasing $2M grant

      January 23, 2025
    • 5

      Netflix shares soar as company reports surging revenue, tops 300 million subscribers

      January 23, 2025
    • 6

      Cyclopharm Signs US Agreement with HCA Healthcare for Technegas®

      January 23, 2025
    • 7

      FDA officially authorizes Zyn nicotine pouches for sale following health review

      January 23, 2025
    • About us
    • Contacts
    • Privacy Policy
    • Terms & Conditions

    Disclaimer: daytradingreports.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.


    Copyright © 2025 daytradingreports.com | All Rights Reserved