[Rockhounds] 55 Billion Tons of Iron Discovered in Hidden Reserve

[Kreigh Tomaszewski]

In a groundbreaking discovery, a colossal iron ore deposit has been
unearthed in Western Australia, poised to revolutionize the global mining
economy and reshape our geological understanding. With its immense economic
potential, this finding challenges preconceived notions about planetary
formation processes. As scientists and economists alike turn their
attention to this newfound treasure, the implications for the future of
mining and geology are profound. This discovery not only holds the promise
of significant economic gains but also inspires a reevaluation of Earth’s
geological history.

The recently discovered iron ore deposit is estimated to contain an
astonishing 60 billion short tons of iron ore, boasting a potential value
of approximately $5.775 trillion based on an average price of $95 per short
ton. This revelation has the power to disrupt our current understanding of
iron resources, challenging established geological processes. According to
Dr. Liam Courtney-Davis, “this discovery could compel us to rewrite
significant chapters on mineral formation and large-scale geological
processes.” The sheer scale of this deposit forces scientists to reconsider
how these massive iron formations came to be, prompting further research
into Earth’s deep past.

The importance of the Hamersley deposit extends beyond its sheer size. It
challenges previous assumptions about the age of mineral formations,
previously dated at 2.2 billion years, now reevaluated to 1.4 billion years.
This shift is potentially linked to the cycles of supercontinents, offering
a new perspective on historical terrestrial movements.

https://www.sustainability-times.com/in-depth/an-unimaginable-fortune-55-billion-tons-of-iron-discovered-in-hidden-reserve-worth-trillions-of-dollars-and-set-to-reshape-global-industry/