Iron Ore

Iron, the fourth most abundant metal on earth surface (comprising 5% of world’s total metal reserves) is one of the most important and widely used metals, finding application in almost all sectors and is appropriately considered as one of the most integral part of global economy after oil. Iron reserves on earth’s surface are mainly in forms of rocks called Iron ores. Its main constituents are the compounds of metallic iron with silicon and carbon. Depending upon the type of combining metals or minerals the color of ore varies from dark grey, rusty rep, deep purple, to bright yellow. The main forms of iron on the earth’s surface are:

• Magnetite ( Fe3O4 )
• Hematite ( Fe2O3 )
• Siderite ( FeCO3 )
• Limonite ( FeO(OH).nH2O)
• Goethite ( FeO(OH))

Iron ore production and mining requires a huge investment for developing a proper infrastructure and is highly capital intensive and thus its production is in the hands of few big players only. Iron ores containing not less than 60% iron (e.g. Magnetite and Hematite) can be used directly to extract iron in blast furnaces and are known as direct shipping or natural ore and is mainly used to make pig iron which is further used for the production of steel.

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