Rio Tinto Limited [ASX: RIO] shares experienced a 3.135% decline this morning, in the wake of the iron ore giant’s first half results being posted after the market closed yesterday. Their stock price is sitting…
Australia is one of the world’s largest iron ore producers. The metal is the foundation of the country’s biggest export industry.
Over 90% of extractions occur in Pilbara, Western Australia and are sent to China — the biggest purchaser of iron ore.
Our editors cover this sector frequently, highlighting the major Australian players, BHP Billiton Limited [ASX:BHP], Rio Tinto Limited [ASX:RIO] and Fortescue Metals Group Limited [ASX:FMG], as well as the smaller contributors. There are also many mid-tier, smaller companies contributing to the booming industry.
Iron Ore is Economically Significant
It’s an economically significant area — the trade accounts for a sizeable proportion of Australian employment — which we regularly review, from performance updates to the latest news.
The extraction process of iron ore consists of blasting hematite and magnetite rocks, removing resulting material from large open-pit mines, then crushing, screening and blending for local consumption or export. Once blended, 98% of mined material is smelted and alloyed with other metals (including nickel, chromium, manganese, vanadium, molybdenum or titanium) for use in varying types of steel production.
Iron ore is a relatively low-cost material and is used 20-times more than any other structural building material.
It’s the most desirable building product, because of its strength, durability and incredible versatility.
It’s an indispensable tool to civilization and has been used for the last 3,000 years.
If you’re interested in learning more about the industry and reading the latest analysis on iron ore, you’ve come to the right place. Read on below.
At the time of writing, shares of Brockman Mining Ltd [ASX:BCK] are up by 23.33%, to 3.7 cents, in today’s trading. What caused the share price increase?
South32 Limited [ASX:S32] is an Australian mining company that excavates minerals, including aluminium and manganese, at numerous sites worldwide. Until a 2015 split, it was part of BHP Billiton. Since its divorce, the company has done exceptionally, outperforming parent company Billiton each year. Despite that, today there was a 3.32% fall in South32’s stock price. … Read More
At the time of writing, shares of Atlas Iron Ltd [ASX:AGO] are up by 22.22%, to 4.4 cents, in today’s trading. Why did Atlas Iron shares jump so much? Find out here from Resource expert Jason…
With its shares growing by 1.70% today, BHP continues to expand its business on great turnover results across all of its projects.
The mining giant isn’t shying away from expanding its operations and increasing productivity across all sites. Its iron ore mines located in Western Australia, are now set to undergo an increase of production resources and…
Atlas Iron specialises in the basic materials sector and work as an independent ore company. Their main objectives are currently in their Abydos and Mt Webber mines, both located in Western Australia.
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