Global iron production is about to change with the recent discovery in Western Australia. And not only that, but it represents a shift in the understanding of the geological history of the Earth. It is the largest deposit of iron ore found to date, located in the Hamerleys region, Pilbara. According to Dr. Liam Courtney-Davies, an associate in the research at the John de Laeter Center at Curtin University, this iron deposit formed in an era when new supercontinents were developing, while the old ones were disintegrating. Researchers have dated the age of the deposit at 1.4 billion years, thanks to uranium-lead isotopic dating.
Australia is the largest exporter globally in the steel industry, so this new finding would further improve its position in the market. However, the deposit is very close to areas of environmental and indigenous significance, so the extractions and exploitation of the area must respect the rights of the indigenous people, and the environmental impact must be as minimal as possible. The need for the development of sustainable energy infrastructures has led markets to increasingly demand steel and minerals, so this discovery comes as a windfall.
Geological finding
A new discovery in Western Australia has turned the iron and steel industry upside down. This is the Hamersley region in Pilbara, where an iron ore deposit containing approximately 55 billion tons of this material with concentrations at 60% has been found. No finding like this has been made before, and its value exceeds $6 trillion. The postdoctoral research associate at the John de Laeter Center at Curtin University, Dr. Liam Courtney-Davies, explained that this deposit emerged when new supercontinents were forming and old ones were disintegrating, during a time of high geological activity. Thanks to uranium-lead isotopic dating, researchers have been able to date this finding to an age of 1.4 billion years.
What does chemistry say?
Thanks to isotopic dating, critical changes in supercontinent cycles have been linked to the development of the mineral body. Moreover, chemistry also has a say. According to geochemical research, it is known that iron content increased from 30% to 60%, due to tectonic activity and chemical erosion. These conclusions raise doubts about what has been known so far regarding geological systems and the activities that occur on the Earth’s surface.
How does it affect the economy?
The impact of this finding on the economy is significant. The iron market is primarily led by exports from Australia, so this new deposit would reaffirm and improve its position. Without iron, there is no steel, so any alteration affects the price, which in turn would affect construction and thus in a chain to reach the manufacturing of infrastructure worldwide.
Cultural and environmental impact
Every discovery in nature requires, as is logical, that the necessary environmental factors are taken into account to preserve the area. At the same time, cultural impact plays a very important role, and in this case, it was no different. The area of the deposit is located near places of environmental and indigenous value, so cooperation between administration and companies is mandatory to ensure that it is done in the most sustainable way and that the rights of the indigenous people are not violated.
New technology is necessary
The depth of this finding is making it difficult for mining companies. That is why companies are racing to find the necessary, effective, and environmentally friendly machinery that can fulfill this function. The technological advancement of the world forces industries to offer more and more resources to achieve the development of sustainable energy infrastructures. That is why this new finding could not have come at a better time! We just need to wait for the appropriate extraction methods to be established and for no rights to be violated in the process.
