Iron ore is a mineral substance which, when heated in the presence of a reductant, will yield metallic iron (Fe). It almost always consists of iron oxides, the primary forms of which are magnetite (Fe 3 O 4) and hematite (Fe 2 O 3). Iron ore is the source of primary iron for the world's iron and steel industries.
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Dec 04, 2012Flow diagram for making steel from iron ore Iron Ore Mining Magnetite ore grinding Various magnetite ore grinding process flow diagram chart Ninety-seven percent of the processed ore shipped to the iron and steel industry
The world will need 3 billion tonnes of iron ore by 2030, that is a growth rate of 2% New supply will be required Over 50% of the additional supply will be delivered through the seaborne market Continued global iron ore demand . Moderate growth in iron ore demand. Total iron ore demand (million tonnes) Source Rio Tinto . 2.0% . CAGR. 9
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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. Indeed, it has been argued that iron ore is more integral to the global economy than any other commodity, except perhaps oil .
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