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nbsp 0183 32 Iron ore is the main ingredient in steel which makes up 95 percent of the metals used in the world per year Two billion metric tons of raw iron ore are produced in a year The world s largest single producer of iron ore is Brazilian mining company Vale which produces over 350 million tons of iron ore

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3 ensp 0183 ensp We will discuss the extraction of iron from iron ore as an example Extraction of iron Iron atoms are found in the compounds FeO Fe 2 O 3 and Fe 3 O 4 and in rocks like haematite and magnetite South Africa is the seventh largest producer of iron ore in the world Iron has been mined in South Africa for thousands of years

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nbsp 0183 32 An increase in Chinese domestic iron ore supply up until October this year also appears to be running out of steam If the Simandou mine in Guinea ramps up to 100mtpa as the winning consortium plans Macquarie suspects the largest players in the market may respond by shrinking their production rates to at least mitigate the hit on prices

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