Showing posts with label Hamersley Region. Show all posts
Showing posts with label Hamersley Region. Show all posts

Wednesday, June 18

Geologists Reveal World’s Biggest Iron Deposit Worth $6 Trillion Set to Impact Global Economy


In a remote part of Western Australia, geologists have uncovered a mineral deposit of staggering size—one that promises to rewrite not only the map of global iron production but also our understanding of Earth’s geological history. The Hamersley region, already known for its rich mineral resources, now hosts what scientists say is the largest iron ore deposit ever recorded, containing roughly 55 billion metric tons of ore with iron concentrations exceeding 60 percent.

This massive find, valued at nearly $6 trillion, marks a significant moment for the global mining industry. Dr Liam Courtney-Davis, a geologist at Curtin University who has been closely involved in the research, published in the journal Proceedings of the National Academy of Sciences, suggests that entire chapters of mineral formation and large-scale geological processes may need rewriting.

The size and quality of the deposit could influence international iron prices and reshape trade relations, particularly between Australia and major iron consumers such as China.