Chapter 1 - Introduction: Overview of the global iron ore industry

IM-21 in Budapest: congress celebrates coming-of-age

Does the extent of competitive pressure industries face influence their productivity? We study a natural experiment conducted in the iron ore industry as a result of the collapse in world steel production in the early 1980s. For iron ore producers, whose only market is the steel industry, this collapse was an exogenous shock. The drop in steel production differed dramatically by region: it fell by about a third in the Atlantic Basin but only very little in the Pacific Basin. Given that the cost of transporting iron ore is very high relative to its mine value, Atlantic iron ore producers faced a much greater increase in competitive pressure than did Pacific iron ore producers. In response to the crisis, most Atlantic iron ore producers doubled their labor productivity; Pacific iron ore producers experienced few productivity gains. ; This article originally appeared in the American Economic Review. (c) American Economic Association.

EVERYONE WHO IS INTERESTED in the future of the American steel industry-and that really means everyone who is interested in the future of this countryshould be aware of the implications of Canada's emergence as one of the world's great iron ore producers. In 1939 there was no iron ore production in Canada proper, and had been none for 15 years. In 1956, Canada was the fourth largest ore producer in the world, and is just now beginning to hit its stride. The promise of a great Canadian iron ore industry which has been implicit for more than 60 years-ever since the classic explorations of A. P. Low, in the Labrador Trough late in the nineteenth century-is now becoming a reality. For as far into the future as anyone can see, Canada should continue to be a major producer. But every producer needs a customer, or several customers, and Canada has one right next door in the United States as well as her own growing steel producers. Already by far the world's largest iron ore consuming nation, we will soon be the world's largest ore importer as our steel production continues to rise. It is the existence of this market-and, to an increasing degree, the needs of Western Europe's steel industrythat will allow Canada's mining industry to reach its fullest and most profitable development. All this is really just another way of saying that Canada has an abundance of iron ore-more than it can use at home now, more than it can use at home any time in the foreseeable future, even recognizing the vigorous expansion of the Canadian steel industry which is now taking place. Last year, Canada produced approximately 17 million long tons of ore, 12 million of it from the newly developed Quebec-Labrador Range. Approximately 90% of the total was exported, principally to the United States, but also to Western Europe and Japan. Recently a study of probable production and consumption of iron ore around the world between now and 1980 was made. Parenthetically, let me remind you that if there is one generalization that can be made about forecasts on steel production or iron ore consumption it is this: in the last 15 years, they have universally been too low. This could well be the case with the figure I am going to quote to you now. It is estimated that by 1960 Canada will be producing approximately 20 million long tons of iron ore a year. By 1965 this could rise to 25 million tons; by 1970 to 30 million tons; by 1975 to 45 million tons; and by 1980 to 55 million tons. Such figures are indicative of a trend as everyone must realize that historically steel expansion goes in waves. Now, 55 million tons is a lot of iron ore. Before the war, which touched off 15 years unabated demand for steel, we considered it a lot for this country to produce. Iron ore mining, therefore, is certain to bulk very large in the over-all Canadian economy. THE HISTORY OF CANADIAN ORE

With the depleting reserves of high-grade iron ore in the world, froth flotation has become increasingly important to process intermediate- and low-grade iron ore in an attempt to meet the rapidly growing demand on the international market. In over half a century's practice in the iron ore industry, froth flotation has been established as an efficient method to remove impurities fro m iron ore. In this chapter, the industrial practice and fundamental research activities of iron ore flotation are reviewed. The latest innovations in iron ore flotation at major iron ore operations around the world are introduced. The development of flotation routes fro m direct an ionic flotation to reverse cationic flotation, and the rising of reverse anionic flotation in China in recent years is discussed. Although direct anionic flotation was the first flotation route employed in the iron ore industry, it was later largely replaced by the more efficient reverse cationic flotation route. The application of reverse anionic flotation in Ch ina in recent years effectively overcomes some flaws of reverse cationic flotation such as high reagent cost and high metal loss in desliming. The reagents used in iron ore flotation, including starch, amines and fatty acids, and the mechanisms of their interactions with the minerals in iron ore are examined. The p resence of some specific impurities other than quartz in iron ore, such as alu mina containing minerals, i.e. kaolinite and gibbsite, and phosphorous, is detrimental and attracts penalties. The removal of these specific impurit ies has received increasing attention in the iron ore industry. The industrial pract ice and latest research activities in this area are closely reviewed.

Iron ore and steel production trends and material flows in the world: Is this really sustainable?

Background. Ukraine holds one of the leading positions in the world among producers of iron ore: seventh place in iron ore extraction and about 5 % of the world's production of iron ore products. Regarding the importance of iron ore for the country's economy, iron ore and steel together accounted for 30 % of Ukraine's exports in 2017, with iron ore comprising 6.3 % of the total export volume. With the onset of war, the situation has changed, thus the development of a strategy for the development of the iron ore industry in Ukraine under conditions of war and taking into account the tasks of post-war recovery of the country with consideration of principles of efficient management of the utilization and replenishment of Ukraine's resource base is a relevant task. Methods. In the research process, general scientific (analysis and synthesis, induction and deduction, analytical grouping) and specific (abstraction, modeling, forecasting, statistical analysis, etc.) methods of studying phenomena and processes were used. Results. The article explores the state of the iron ore market in the world and Ukraine. To assess the situation in the iron ore industry of Ukraine, comparisons were made with global trends. The obtained results led to the conclusion that since 2003, there has been a correlation between the dynamics of iron ore extraction in the world and in Ukraine. As for price characteristics, similar trends in changes exist, but Ukraine's export prices are lower than global ones in absolute terms. The analysis revealed that the iron ore industry is the one that compensates for the economic losses of countries during crises or helps to overcome them. With this in mind, research was conducted on the relationship between the country's GDP and export volumes and export prices for iron ore and their global levels using correlation function. An economic-mathematical model was constructed, and the main influencing factors were identified. The study examined the impact of full-scale war on the state of the iron ore industry and its export capabilities. In the context of expected trends in the coming years, it has been proven that there is a justification for increasing ore exports to support the country's economy. Forecasting of trends in the development of the domestic iron ore industry (iron ore extraction, country's export capabilities) under conditions of war, considering the expected prospects for the development of the global market, has been carried out. Conclusions. The research demonstrates the key importance of the iron ore industry for the country's economy, including crises and overcoming their consequences. An economic-mathematical model of the industry's impact on the country's GDP, taking into account export flows, has been developed. This allowed forecasting the main parameters of the industry's development during wartime and post-war recovery of Ukraine.

The National Steel Policy 2005 estimated domestic steel production of 110 MTPA by the year 2019–2020, which was revised by the National Steel Policy 2008, envisaging domestic steel production of the country to be 180 MTPA by 2019–2020. About 2.5 tonnes of ROM iron ore or 1.7–2.0 tonnes of processed iron ore is required for one tonne of steel production. To meet the projected steel production of 180 MTPA by 2019–2020, the iron ore requirement have to be in the order of 500 MTPA which includes long term projected export contracts of around 100 MT. Raw materials are crucial in determining the competitive growth of steel industry as this is an input-intensive extractive industry. Situation calls for proportionate development expansion in adequate raw material supply to meet the demand of Indian steel Industry. India is almost completely self sufficient with regard to iron ore but with future steel production envisaged, an adverse impact on the reserves, position is rather imminent. The existing reserves of hematite (averaging around 63 % Fe) are the only source of iron ore and as such, these reserves may not last beyond 25–30 years at the present rate of consumption. Hence, to meet the future and projected requirement, additional domestic resources have to be created. The ores and minerals are site specific, non-renewable and finite. It is a challenging task for iron ore producers to meet the demand as per the national steel policy. In order to meet the demand, the iron ore producers has to face challenges like increasing the resource base, increasing production and productivity, utilisation of low grade iron ores, beneficiation of low grade fines and slimes, overcoming the infrastructure bottlenecks like roads, railways, ports, power, capital and water, human resource, handling, storage and utilisation of slimes/tails, encouragement for R&D activities, adopting environmental friendly measures and land acquisition for setting up new plants. In this paper all the above aspects are discussed thoroughly.

Objective. Evaluation of the evolution of Ukraine’s iron ore industry based on a dynamic structural analysis of production and trade. Methods. To achieve the set objective, the following methods were employed: critical analysis of literature and practical experience (analysis of macroeconomic and political factors affecting the industry), observation (dynamics of iron ore production and export), comparison (analysis of Ukraine’s indicators with those of other iron ore exporting countries), statistical analysis, particularly correlation analysis (identification of main trends and industry development), modeling (construction of production and export dynamics models), visual methods (graphs, charts, and diagrams), and a systemic approach (integration of various analytical methods into a unified methodology). Results. The evolution of Ukraine's iron ore industry during the period 1995–2024 was investigated. Based on dynamic and structural analysis, the main stages of the industry's development were identified:: (1) “Survival after the USSR collapse,” (2) “The golden era of growth,” (3) “Post-crisis recovery,” (4) “War and economic decline,” (5) “Gradual recovery,” (6) “COVID-19 and global economic instability,” and (7) “Full-scale war and its consequences.” The impact of iron ore on Ukraine’s GDP was established (its share in GDP is 6-10%). The influence of global economic crises, war, and the COVID-19 pandemic on the dynamics of production and export of iron ore was determined (market diversification, discovery of new logistic routes, and modernization of production capacities, decrease in production). Special attention was given to the impact of military actions on Ukrainian territory during 2022–2024, which led to significant reductions in production and export volumes, as well as severe logistical constraints. Nevertheless, the industry is showing gradual recovery due to adaptation to new conditions, including the restoration of export routes and reorientation toward alternative markets.

Eighty per cent of the world's steelmaking is through the blast furnace route and hence the role of iron ore as a raw material and its quality become very critical to achieve steel with the best quality from hot metal. The world's iron ore resource base has been estimated at 180 000 million tonnes (MT), while the reserves are 79 000 MT. India ranks the sixth among producers of iron ore, with a 6200 MT reserve base. The majority of Indian iron ore deposits occur in the eastern, central and southern parts of India in the regions of Jharkhand, Orissa, Karnataka, Chhattisgarh and Goa. Among these provinces, the iron ores of Eastern India are of high quality and present in large quantities. Indian iron ore resources consist of both hematitic (10 052 MT) and magnetite (3408 MT) varieties. Major ore types are hard, flaky/friable, lateritic and blue dust or powdery ores. The ratio of lumps and fines in the deposits is 50 : 50, but the high grade lumpy variety is rare and constitutes <10% of the total reserves. India's iron ore production has just doubled in the last 5 years, achieving a total of 154 MT in 2005–06 compared with 86 MT in 2001–02. The Indian iron ores in general and Eastern Indian iron ores in particular consist of various impurities in the forms of Al, P and Si, and this poses major beneficiation problems especially in fines processing. The presence of these elements along with sulphur adversely affects the quality of iron ores and has a great bearing on performance of blast furnaces. Reduction of the alumina content in iron ore by 1% improves blast furnace performance by 3%, reduces reduction degradation index (RDI) by 6 points, lowers the coke rate by 14 kg per tonne of hot metal and increases sinter productivity by 10–15%. The presence of phosphorus and sulphur increases surface cracking during steel processing. High alkali contents lead to a lowering of the mechanical strength of coke and sinter, imbalances in the furnace operation and a reduction in furnace productivity. The Indian iron ore industry is going to face major challenges in the near future, as the production trend of iron ore worldwide is swinging up every year owing to the iron ore boom in recent years. It calls for mineral conservation and prevention of mineral losses in terms of wastes/slimes. This needs to be achieved through detailed exploration work, mine planning techniques, scientific exploitation and mineral beneficiation processes. For optimum utilisation of mineral resources, total beneficiation of iron ores, mineral rejects and wastes need to be augmented. In addition, alternative processes for ironmaking, such as COREX, ROMELT and HISMELT, need to be introduced by the major producers. This paper addresses the importance of quality raw materials in achieving benchmark iron- and steelmaking while maintaining the cost effectiveness. Emphasis has been given on the value addition of the subgrade and marginal-grade ores for mineral conservation and prevention of losses.

Flotation is one of the main concentration processes being employed for many classes of minerals (sulfides, oxides, silicates, phosphates, for example) at different particle sizes. In the iron ore industry, reverse quartz flotation has been successfully employed for particle sizes below ISOfim after the desliming process. The high demand for iron ore products has made flotation the main process for concentration in this industry, thus a better understanding of its mechanisms and the effect of the particle sizes in the process has become imperative. Flotation tests were carried out with three different size fractions of an itabirite iron ore, obtained using cyclone classification after desliming. The results showed distinct behaviors of the different size ranges. Higher etheramine dosages are required when coarse and fine fractions are floated separately and also this procedure is more sensitive to variations in etheramine dosages and pH values. The differences in particle size distributions and the specific surface area may explain the different flotation behavior of the distinct size fractions. The split flotation circuits for coarse and fine particles indicated an increase of 3% points in the metallurgical recovery with reduction of SiO2 content in final concentrate, increase of etheramine dosage and reduction of corn starch dosage. Economic feasibility analysis indicated a positive net present value of 50 million of dollars with split circuits for coarse and fine particles, considering a production of 10 million tons per year of pellet feed.

Influencing factors analysis of China’s iron import price: Based on quantile regression model

Banded iron formation-hosted high-grade (>60 weight percent (wt%) iron (Fe)) hematite ore deposits make up the bulk of the world's iron ore production and reserves. They developed mainly through supergene and/or hydrothermal leaching of silica from the iron formation host rock under oxidizing conditions. Early Palaeoproterozoic iron formations of the Transvaal Supergroup host several such high-grade hematite ore deposits. The largest ones are developed in the Asbesheuwels Subgroup iron formation on the Maremane Dome, between Sishen and Postmasburg in the Northern Cape Province of South Africa. These deposits currently produce virtually all of South Africa's annual supply of about 78 million tonnes (Mt) of high-grade hematite ore, to the local and export market from the Sishen, Khumani, Beeshoek and Kolomela Mines. These represent ancient supergene deposits that formed along the approximately 2.2 to 2.0 Ga unconformity at the base of the Gamagara/ Mapedi red bed succession of the Keis (formerly Kheis) Supergroup. Smaller ancient supergene deposits are also developed along the same unconformity such as where it intersects the Rooinekke Iron Formation of the Koegas Subgroup at the Rooinekke Iron Ore Mine to the south of the Maremane Dome and the intersection of the Hotazel Iron Formation of the Voelwater Subgroup of the Transvaal Supergroup, in the Kalahari Manganese Field to the north of the dome. The supergene ores occur in four types, namely laminated, massive, brecciated and conglomeratic ores, the latter forming part of the Gamagara/Mapedi red bed succession. With the exception of the ore at Rooinekke, which is manganiferous, the supergene ores are of high grade (>60 wt%) and they also have low silica and phosphorous contents. Normalized rare earth elements, in contrast to the banded iron formation protolith, show light rare earth element depletion and the oxygen isotopes are slightly depleted to slightly enriched in 18 O. Hydrothermally enriched deposits include: Thabazimbi, situated in the Penge Iron Formation of the Transvaal outcrop area of the Transvaal Supergroup in the metamorphic aureole of the Bushveld Complex; and the Bovenzeekoebaart and magmatic hydrothermal Nauga East deposit, both located in the Kuruman Iron Formation of the Asbesheuwels Subgroup, along the southern extremity of the Griqualand West outcrop area of the Transvaal Supergroup. These hydrothermal iron ores are all developed at the bottom contact between the host iron formation and underlying carbonaceous shale that marks the transition into the Malmani- Campbellrand carbonate platform succession below. In some instances this contact is faulted. The ore grades upwards into oxidized iron formation, with isolated lenses sometimes developed at higher stratigraphic levels. Fault systems intersect the iron formations and the mineralisation is concentrated between mafic sills, higher up in the iron formations and the bottom shale contact. At Nauga East, mineralisation is developed in contact with a steeply dipping zoned syenite-carbonatite dyke. The hydrothermal ores are of high grade (>60 wt%), but can have higher phosphorous contents of up to 0.25 wt%. Normalized rare earth elements are enriched but similar to that of the host iron formations and the oxygen isotopes are generally depleted in 18 O. The mining of iron ore in South Africa dates from between 800 and 1200 AD, with modern exploration and mining starting from 1916. The first production of high-grade banded iron formation-hosted ore commenced in 1931 from the Maremane Dome and Thabazimbi. The first truly world class iron ore mine in South Africa, Sishen, was opened in 1953 and still operates today. The deposits at Khumani and Welgevonden have gone into production as recently as 2008 and 2011 respectively. Current estimates place the life of mine of the larger deposits at between 15 and 40 years.

Background/Objectives: Due to soaring demand and rapid depletion of high-grade iron ores, lean grade iron ores of India like BHJ and BHQ needs to be utilized through suitable beneficiation techniques. Methods: Banded Hematite Jasper (BHJ) sample of Bonai-Keonjhar belt (BK belt), Odisha, India assayed 35.3 % Fe, 47.1% SiO2 and 0.96% Al2O3 was investigated in respect of mineralogy, liberation characteristics and chemistry to finding out its optimum beneficiation potential. In the present investigation, efforts have been made to characterize the BHJ sample with reference to its beneficiation response. The sample was subjected to various beneficiation operations like Jigging followed by hydrocyclone, two-stage tabling and magnetic Separation. Findings: Mineralogical studies indicate that quartz and hematite are the major mineral phases, whereas goethite, martitized magnetite and clay (kaolinite) are present in very minor amounts. The liberation characteristic indicates that the average band thickness of Iron bearing mineral is of 1680 microns and 80% of the iron bearing minerals are liberated at -105 microns size. The two stage tabling of jig concentrate with desliming gives better outcome as compared with direct tabling of jig concentrate. An iron ore concentrate assayed 64.5% Fe, 5.6% SiO2 and 0.80% Al2O3 with wt% recovery of 23.2% can be obtained from two stage tabling. Another concentrate from magnetic separation of table middling and hydrocyclone assayed 63.2% Fe, 7.2% SiO2 and 0.7% Al2O3 with wt% recovery of 12.4% can be obtained. Novelty/ Application: Here a conventional beneficiation flow sheet is developed with a finding that, in order to beneficiate ore like banded hematite jasper (BHJ), an integral characterization approach is very much essential. Both of the concentrates obtained through the flow sheet assayed 64% Fe, 6.2% SiO2 and 0.7% Al2O3 with a wt% recovery of 35.6% can be utilized as a feed stock for pellet making in iron ore industries. Keywords: Banded Hematite Jasper (BHJ); mineral beneficiation; wet high intensity magnetic separator (WHIMS); jigging; Bonai-Keonjhar belt

FUEL, water, and iron ore are the most important inputs used in the production of pig iron; pig iron is the most important input used in the production of steel. Because of the high transportation costs, before I830 American pig iron producers found it most profitable to locate where these three inputs existed in conjunction.1 At this time successful pig iron firms were small, sold their product in narrow geographical markets, and produced for their own use most of the necessary raw material inputs. After i 830, as anthracite coal became an economical fuel, as huge geographically concentrated deposits of iron ore were discovered and developed in areas far away from the nation's major population centers, and as the nation's internal transportation improved, sharply increased scale economies arose in the production of both of pig iron's principal mineral inputs. At the same time, the scale economics of pig iron production were increasing at a much slower rate. Thus, most successful pig iron producers began to realize diminishing profits in the production of both iron ore and fuel. Hence, they began to find that it was more profitable to buy both mineral inputs in the market. This realization led to a trend toward less backward integration by pig iron producers (and their successors, the crude steel producers) that continued unabated until the mid-I8gos. Between I896 and I900 more than two-thirds of the total iron ore consumed in the United States came from mines located in the Lake Superior region. In I896 more than one hundred companies were located in this region, and they produced 9,669,000 tons of iron ore. Twenty-six of these companies produced at least Ioo,ooo tons of iron ore and five produced more than 400,000 tons. The combined output of the five largest firms totalled 3,I30,000 tons and the largest (the Minnesota Iron Ore Company) produced almost goo,ooo tons. Only one of these five companies (the Oliver Iron Mining Company) was owned by a steel producer.2 The total iron ore output of the Lake Superior region soared to

The purpose of the article – to identify the main characteristics of iron ore mining and beneficiation enterprises that allow carrying out income-generating export activity in terms of increasing the level of globalization of the country. Methodology. Information background of the research consists of publications of KOF rating of the level of globalization of countries of the world (1991–2016), annual reports of the United States Geological Survey (1995–2016), statistical data of the State Statistics Service of Ukraine (2012–2016), scientific publications and findings of experts of the national and world markets for iron ore. Achieving the purpose of this article provides for the following stages and methods of scientific research: time series analysis – for evaluating dynamics of globalization index for Ukraine, dynamics of global iron ore production and export of iron ore raw material by Ukrainian producers; vertical analysis – for determining the structure of global iron ore production; methods of qualitative analysis (expert estimation) – for defining characteristics of mining and beneficiation enterprises that allow ensuring competitiveness in the global market; generalization – for determining options of sales of Ukrainian iron ore production in international markets in terms of globalization. Results. High-level globalization of Ukraine makes it significantly dependent on the condition of global markets of key export branches of the national economy. Ukraine belongs to the top ten countries with the largest reserves of iron ore and its production in the world; however, an insignificant part of the market doesn’t allow influencing its condition. The surplus of iron ore and deficit of iron-ore pellets in the global market stimulate the interest of Ukrainian mining and beneficiation enterprises in projects on improving their existing production facilities. The volatility of the global market for iron ore raw material increases the level of financial and investment risks. Practical significance. The established trends in globalization of Ukraine and the status of Ukrainian producers of iron ore raw material in the global market allow us more thoroughly analyse their competitive advantages in the long view and develop risk reduction programs. Alternatives to sales of Ukrainian iron ore production of vertically-integrated holding under globalization are made. Value/originality. Determined advantages of Ukrainian exporters of iron ore raw material in the global market that, in terms of high-level globalization of the country, are provided by the corporate synergy of the transnational vertically-integrated exporting company.