Noun – “Mineral, rock or soil which iron can be extracted.”
Steel is the most used metal in world, of which iron ore is the key ingredient. In iron-making, iron ore is the key ingredient for blast furnaces to produce pig iron or ‘hot metal’. These iron rich materials are then processed further to be made into steel in the steel-making processes of Basic Oxygen Furnaces (BOF) and Electrical Arc Furnaces (EAF). Major producers of iron ore are in China,
Australia, Brazil, Russia, Ukraine, South Africa and the United States. The estimated global production of iron ore in 2010 is 2.4 billion tons. Steel mills in China are the biggest buyers of iron ore, at two thirds of over 1 billion tons of sea borne trades in 2010.
Rhodium Resources procures iron ore mainly from India, Australia and Brazil to steel mills in North Asia.