Iron ore is Australia s largest source of export revenue worth 63 billion approximately US 45 billion in 2017 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
In 2008 09 expenditure for exploration in iron ore in Western Australia increased by 33 percent compared to the previous financial year 2007 08 The A 560million spend on iron ore exploration accounted for 45 percent of all mineral exploration expenditure in the state
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4 Mar 2015 High resolution large scale geophysical data have recently become readily and freely available for the majority of the Australian continent yet there have been few efforts to create a synthesis of these datasets for mineral exploration Considering the rising cost of finding new deposits and the recent nbsp
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We have deployed our biggest exploration rigs at Balda Block Iron ore mine which is one of the largest mines in India having 15 15 Mtpa capacity We have done extensive exploration of about 20 000 meters with closed grid intervals in 400 ha area which increased the remaining reserve from 50 Mt to 300 Mt
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Hematite is the most important iron ore The iron content of the pure minerals is as follows Ankerite is a carbonate of lime magnesia manganese and iron It is of valuable composition carries only 14 or 15 of iron and is used more for its lime and magnesia as a flux than for its iron content