Geoscience Australia is the government's technical adviser on all aspects of geoscience, and custodian of the geographical and geological data and knowledge of the nation. A range of documents govern our operations and provide information about our projects and initiatives. The market price for seaborne iron ore has risen consecutively over recent years from a low of US$47/t in 2015-16 to US$72/t in 2018‑19. Iron ores of this type are commonly termed the banded iron formation or simply abbreviated as BIF. Geoscience Australia may also hold some confidential data. These can be used directly in blast furnaces or in direct reduction steel-making plants. General and thematic maps of Australia including outline maps, bathymetric maps, geophysical maps and geological maps. In addition, a prefeasibility study on the development of the North Pit underground mine is progressing and numerous deep resource drill holes have been completed, resulting in an increase in overall resource estimates in 2018. 30 Company Name. Australia has the world’s largest estimated reserves of iron ore with 52 billion tonnes, or 30 per cent of the world’s estimated 170 billion tonnes. Iron ore is Australia’s largest source of export revenue, worth $63 billion (approximately US$45 billion) in 2017. At Grants, drilling conducted at the western end of the Grants Basin iron ore prospect showed some significant intersections of iron mineralisation, including 296 m at 24.3% Fe27. Geoscience Australia offers a variety of scientific, technical, IT and administrative roles. Approximately two billion tonnes of iron ore are mined each year. The Office of the Chief Economist projects that iron ore exports will continue to increase, reaching 996 Mt in 2024-25 15. All reported reserves and resources are compliant with the JORC Code unless otherwise stated. Iron Ore Mining in Australia industry outlook (2020-2025) poll Average industry growth 2020-2025: x.x lock Purchase this report or a membership to unlock the average company profit margin for this industry. Razorback Iron: Magnetite Mines Ltd reported an updated mineral resource estimate for the Razorback Iron deposits in accordance with the JORC (2012) Code in late 201825. Geoscience Australia may also hold some confidential data. Mining giant Rio Tinto (ASX, LON:RIO) is said to be fine-tuning details to begin building a new massive pit at its Yandicoogina operation in Australia’s iron ore-rich Pilbara region. The iron ore mined and shipped from Western Australia has been haemetite ore, also referred to as Direct Shipped Ore. Magnetite ore, also present as a resource in Western Australia, can also be used by Chinese steel producers. 41 Red Hill Iron Limited. BHP achieved its production capacity guidance of 270 Mt for the 2018–19 financial year as operations returned to full capacity following the cyclone that occurred in March 201951. Australia’s Ore Reserves of iron ore and contained iron, production and potential reserve life, 2002-2018. Small deposits occur in Tasmania, the Northern Territory and New South Wales. Information regarding various disciplines and techniques including: geochemistry, geochronology, geophysics and marine surveying. Figure 3. It has been the dominant iron ore mined in Australia since the early 1960s. This increases to 26 years if all deposits with reserves are considered (Table 1). Western Australia This State has some very rich deposits of iron ore, but owing to their geographical position the most extensive fields at the present time are practically unexploited, the production in the State being confined chiefly to that needed for fluxing purposes. Australia is followed by Russia, with 25 billion tonnes (13 per cent), Brazil with 23 billion tonnes (12 per cent) and China, with 21 billion tonnes (but of substantially lower grade) of estimated iron ore reserves. 31 Davis Tube Recovery testing is a laboratory technique that firstly pulverises the magnetite sample and then uses a Davis Tube wash to recover the magnetic particles. General and thematic maps of Australia including outline maps, bathymetric maps, geophysical maps and geological maps. South America, Australia, and Asia have some of the largest iron ore mines. Reserves were estimated to be 15,500 Each year the iron ore industry generates around $5 billion in royalties for the State Government of Western Australia (depending on market prices) and major iron ore producing companies (BHP, Rio Tinto and Fortescue) pay around $3 billion in company tax each to Hematite is an iron oxide mineral. Based on data published by the United States Geological Survey16, supplemented by Geoscience Australia data, Australia ranks highly both in terms of production and economic resources of iron ore. Australia has the world's largest economic resources of iron ore with 29% of the global total. 44 Fortescue Metals Group Ltd. ASX Announcement 5 July 2019. Koodaideri's Phase 1 development aims to produce 43 Mtpa of iron ore and is expected to start production in late 2021, contributing to the company's high-grade "Pilbara Blend" products48. Teaching resources for primary and secondary levels including background information, student activities, full-colour cut-out 3D models and posters. These projects are approximately 300 km east of Port Pirie. Table 6. Geoscience Australia offers a variety of scientific, technical, IT and administrative roles. Therefore, both AEDR and EDR have increased by 3% during the 2018 assessment period. Additionally, when compared to hematite DSO, the magnetite pellets contain lower levels of impurities, such as phosphorous, sulphur and aluminium. Total resources comprise all Demonstrated and Inferred Resources. Cnr Jerrabomberra Ave and Ore Reserves as reported in compliance with the JORC Code, plus non-JORC Code equivalents. Another factor is short-term demand from Chinese steel mill producers, with increased production prior to a government-imposed winter production slowdown. The Extension iron ore mine in Western Australia will be the first iron ore mine in Australia to be owned and operated by Aboriginal Australian. The pellets contain 65% to 70% Fe, a higher grade compared to the hematite DSO currently being exported from the Hamersley province. Savage River: The operation at the Savage River mine, located 75 km southwest of Burnie, processes and beneficiates magnetite ore to produce magnetite pellets at its plant at Port Latta (on the north coast of Tasmania) for export throughout the Asia Pacific region. In addition, some reserves and resources may have been reported to foreign stock exchanges using other reporting codes, which are largely equivalent to the JORC Code. The reported Mineral Resource now stands at 2 500 Mt at an average grade of 17% Fe and is inclusive of a JORC Probable Ore Reserve of 755 Mt at an average grade of 17.5% Fe21. WA Iron Ore Profile – March 2017 Page 1 of 4 Release Classification: - Public Iron Ore Industry Profile March 2017 Western Australia Western Australia is the largest iron ore producer and exporter in the world, accounting for 37 per cent of global production and 52 per cent of global seaborne exports in 2015. 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