Billion‑Tonne Iron Ore Project in Tier‑1 Location Eyes Next Steps
Iron ore is a naturally occurring mineral rich in iron oxides, most commonly found as hematite or magnetite, which theoretically have 69.9 % and 72.4 % iron content, respectively. These high‑grade ores, often referred to as “direct shipping ore,” can be fed directly into blast furnaces with minimal processing. Roughly 98 % of all iron ore mined globally is used in steel production, making it a critical input for industries such as construction, transportation, manufacturing, and infrastructure. According to Grand View Research in May, the global iron ore market size was estimated at US$275.23 billion in 2024 and was projected to expand at a compound annual growth rate of 4.0 % from 2025 to 2030, reaching US$313.02 billion by 2030.
Source: https://www.streetwisereports.com/article/2025/11/04/billion-8209-tonne-iron-ore-project-in-tier-8209-1-location-eyes-next-steps.html
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