Jackpot for Australia as the country finds Iron Ore reserve worth Rs 470250000000000, the Kangaroos now plan to…, their economy…

Associate Professor Martin Danisík explains that ancient atmospheric and oceanic changes played a crucial role in transforming low-grade 30 percent iron deposits into high-grade 60% ore, significantly increasing their modern value.

New Delhi: The Hamersley region of Australia now owns the largest iron ore deposit ever found. According to the reports, the region has discovered 55 billion metric tons of high-grade ore, valued at a staggering USD 5.7 trillion. The researchers from Proceedings of the National Academy of Sciences (PNAS) said that these formations are 1.4 billion years old, far younger than the 2.2 billion years once believed.

The find-links Earth’s supercontinent cycles and tectonic shifts to the rapid mineral formation, showing that massive geological events—not slow processes—built this iron treasure.

The Osmium isotope studies revealed that massive volcanic activity 1.4 billion years ago infused the environment with iron, creating one of Earth’s richest ore fields. Associate Professor Martin Danisík explains that ancient atmospheric and oceanic changes played a crucial role in transforming low-grade 30 percent iron deposits into high-grade 60% ore, significantly increasing their modern value.

At USD 105 per metric ton, this discovery has a potential value of USD 5.7 trillion, setting Australia up for decades of dominance in the global iron ore trade. It is also important to note that the global demand for the steel is growing, and this high-quality iron ore is essential for infrastructure, tech, and energy. Hence, Hamersley is proving to be a keystone for industrial development.

The discovery will reshape mining strategies worldwide, as scientists now target areas shaped by ancient tectonic movements for future massive ore finds.