Iron ore market is thriving worldwide

The Global Iron Ore market is anticipated to rise at a considerable rate during the forecast period, between 2023 and 2030. In 2022, the market is growing at a steady rate and with the rising adoption of strategies by key players, the market is expected to rise over the projected horizon.

Iron ore is a relatively abundant metallic element (it composes about 5% of the Earth’s crust) and the main raw material used in steelmaking. Around 98% of global mined iron ore is used to make pig iron, which is an intermediate product of the steel-making process. The remaining 2% is used in several applications, such as production of cement, printing inks, plastics, cosmetics (eye shadow), artistic colors, fertilizer ingredients, and pigments. Currently, iron ore is mined in over 50 countries; however, the bulk of production comes from Australia, Brazil and China.

Alien Metals Ltd (LON:UFO) is a global minerals exploration and development company that will shortly make the transition to iron ore producer. The company was formed from Arian Silver in late 2018, retaining some of the companies more valuable Mexican projects before embarking on an acquisition led strategy, headed up by an excellent geological team and targeted entirely on Western Australia.

Click to view all articles for the EPIC:
Or click to view the full company profile:
Facebook
X
LinkedIn

More articles like this

Insights on the Platinum Group Metals market

The Platinum Group Metals (PGMs) market has recently been examined in a study released by USD Analytics Market, shedding light on its size, share, and sales while identifying opportunities and conducting a risk analysis. The report

PGM metals in Global Innovation and Sustainability

Platinum group metals (PGMs) play a pivotal role in a wide range of industries, making them highly valuable and indispensable resources in today’s global economy. Comprising six metals – platinum, palladium, rhodium, ruthenium, iridium, and osmium

The global importance of Iron Ore

Iron ore, a naturally occurring mineral, plays a crucial role in the development of modern infrastructure and industries. As one of the most abundant elements on Earth, it is a primary source of iron, a key

Promising lithium discovery at Pinderi Hills

Errawarra Resources received promising results from an extensive two-month reconnaissance exploration at the Pinderi Hills project. The exploration, which involved soil, stream sediment, and rock chip sampling, successfully identified a significant lithium footprint and uncovered valuable

Iron ore futures recover amid positive China data

Iron ore futures saw a recovery on Friday, driven by better-than-expected inflation data from China, the top consumer of the metal. However, ongoing concerns about demand and high supply kept prices on track for a weekly

Iron ore prices soar to two-week high

Iron ore futures experienced a significant rise on Monday, reaching a two-week high, influenced by a promising Chinese economic outlook. This surge followed robust services data and continued expectations of economic stimulus from China, the leading

Alien Metals raises £0.6 million via Placing

Alien Metals Ltd (LON:UFO), a global minerals exploration and development company, has announced that, further to its announcement of 11:01 a.m. (London time), it has successfully completed and closed the Placing. The Placing has raised, in aggregate, gross proceeds

The significance of Iron Ore in the global economy

Iron ore is one of the most abundant and widely utilised natural resources globally. It serves as the primary raw material for steel production, essential for industries like construction, transportation, manufacturing, and energy. Its significance extends

Alien Metals and Australia’s Platinum Group Metals potential

Australia’s history with platinum group metal (PGM) deposits is mixed, with numerous unsuccessful attempts to develop operations since the market’s initial excitement in 1985. However, current conditions might favour the resurgence of these metals. Rob Mosig,