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Currently magnetite iron ore is mined in Minnesota and Michigan in the US Eastern Canada and Northern Sweden Magnetite bearing banded iron formation is currently mined extensively in Brazil which exports significant quantities to Asia and there is a nascent and large magnetite iron ore industry in Australia Direct shipping hematite ores

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The main iron mineral in magnetite ore is the ferrous iron oxide magnetite Fe 3 O 4 Magnetite ore requires complex processing to separate magnetite minerals from other minerals in the ore to produce an almost pure magnetite concentrate with an iron content of between 68 Fe and 70 Fe that is highly sought after by steel makers

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Karara comprises a large scale long life magnetite orebody amenable to bulk mining and processing Magnetite ore has lower iron content 34 36 Fe than hematite ore 58 64 Fe It must be upgraded by a complex ore treatment process beneficiation to produce a

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Iron Ore in USGS Mineral Resources Program US iron ore production decreased 3 in compared with that of hematite and magnetite in varying proportions and is found in hard fine grained banded to consist of an iron ore mine pelletizing plant DRI plant and facilities for iron ore benchmark prices with CVRD early and for a relatively high price the

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