What is Iron Ore and What are its uses?
Raghu R Naik
The article informs complete details about Iron Ore mining, usages and supplies. Iron Ore is in high demand by the Steel Mills and other factories. Iron Ore mining is done in huge volumes and exported to all major steel mills in the word. Iron Ore exporters are mainly supplies against bulk orders.
What is Iron Ore and for what it is used?
Iron Ore is a raw mineral used for making steel and is mined from earth and comes with lot of impurities. Iron Ore is available in forms of big stones (Boulders) and powdered sand form. Iron ore is available as
'Hematite 'and 'Magnetite'
. Iron Ore is mining is done by private iron ore mining companies as well as by government iron ore mining companies.
Iron ore is used for metallic and non- metallic purpose.
There is a huge demand of iron ore mainly Hematite Iron Ore for metallic purpose in which the maximum demand is from steel manufacturers. Worlds ninety percent of the iron ore mined in various countries are used to manufacture steel. The steel manufacturers treat iron ore in blast furnaces to recover iron. This raw iron is further refined to make steel.
Steel is a base metal and is used for all purpose like manufacturing cars and vehicles, building ships, construction, building factories and industries etc.
For non-metallic uses, iron ore is used in cement industries. Iron ore is rich in red oxide which is anti corrosive in nature. The best source of red oxide is iron ore.
Paint Industry also uses iron ore for producing red oxide paints used for protecting iron from corrosion or rusting.
Other than cement factory, iron ore is also used in pipe coating by the manufacturers of submergible pipes. The high specific density of the iron ore fulfills the purpose of the pipe coasting industries. The submergible pipes are used in deep sea for carrying crude oil, natural gas etc.
The other industry which uses iron ore is 'coal industry'. The coal industry requires magnetite ore was beneficiation of the coal. By beneficiation process the impurities of the coal is washed and magnetite iron ore with high specific gravity is used as heavy media to remove the impurities.
Iron Ore powder is also used for making iron ore pallets of sizes minimum 5mm to 25mm or 40mm, which is in high demand from Steel Mills and is used to make steel.
Other than these industries, iron ore in small quantity is also used in chemical and pharmaceuticals industries.
However, the price of the iron ore is totally depends on its prevailing market. The spot ready stock shipments fetch better prices that the regular supplies of Iron Ore.
The above mentions are some of the usages, other than these usages, iron ore can be used for various purposes in small and huge quantity. In some countries, the mining of iron ore is not permitted even the country has the best deposits of iron ore. The reason behind this may be the country looks for the future reserves or may be the cost for mining is higher than the cost of importing.
The iron ore mines are the natural resources and is directly under the control of the government of the country. Before any purchase and sales of iron ore mines, proper documents verification should be done as minerals rights in some countries are not transferable. The countries which are mining iron ore, exports the major parts. The exporters of Iron Ore earn huge profits after purchase from Iron Ore Suppliers and Iron Ore mine Owners and directly exporting to the overseas steel units. At present China is the highest purchaser of Iron Ore in the world.
How iron ore mining industry booming in India
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