Australia strikes gold or iron: Historic 55 billion metric ton discovery

According to a recent article, Daily Galaxy unveils that a groundbreaking discovery in Western Australia has unveiled the world's largest known iron ore deposit, containing a staggering 55 billion metric tons of high-quality iron ore. 

Located in the Hamersley region, this monumental find is estimated to be worth $5.7 trillion, with the potential to dramatically reshape global mining, trade, and resource exploration strategies. This discovery is not just significant due to its size and value but also because it challenges long-standing geological theories about how Earth’s richest iron ore deposits formed. Researchers have determined that the formations are much younger than previously thought, dating back 1.4 billion years, instead of the 2.2 billion years originally believed. 

Published in the Proceedings of the National Academy of Sciences (PNAS), this breakthrough suggests that the cycles of supercontinents and ancient tectonic movements played a crucial role in concentrating iron deposits to an unprecedented scale. Rethinking Iron Ore Formation The massive scale of the Hamersley deposit has led geologists to reassess the natural processes responsible for creating large mineral deposits. While it was traditionally believed that iron ore accumulated over billions of years in a slow and steady process, this discovery points to the possibility that rapid mineralization could have been triggered by significant geological events like the breakup and reassembly of supercontinents.

“The discovery of a link between these giant iron ore deposits and changes in supercontinent cycles improves our understanding of ancient geological processes,” said one of the study's co-authors.

This finding reinforces the idea that tectonic shifts and changes in ancient ocean chemistry may have played a much more significant role in the formation of iron ore than previously understood. Tracing the Geochemical Fingerprint To determine the age and formation of the Hamersley deposit, researchers used Osmium isotope analysis, a method that traces chemical signatures in ancient rocks. The analysis revealed that significant volcanic activity occurred in the region 1.4 billion years ago, releasing iron-rich material into the environment—much earlier than the 2.2 billion years once assumed. 

One of the study's most intriguing questions was how the iron content of the deposits changed from approximately 30 per cent to more than 60 per cent, dramatically increasing its economic value. “The exact timeline of the change of these formations from 30 per cent iron as they were originally, to more than 60 per cent iron as they are today, was not clear,” explained Associate Professor Martin Danisík.

The research suggests that ancient atmospheric and oceanic conditions may have purified the iron, resulting in the high-grade ore that makes the Hamersley region one of the most valuable mining areas on Earth. A $5.7 Trillion Discovery with Global Impact With iron ore priced at $105 per metric ton, the total value of this deposit is an astonishing $5.7 trillion, far exceeding economic expectations for the region. 

This discovery is expected to:

Strengthen Australia’s position as the largest exporter of iron ore, reinforcing its dominance in the global iron ore market. 

Attract substantial investments from mining companies and governments eager to capitalize on the historic find.

Inspire new exploration strategies as geologists now have a better understanding of where to locate similar large iron deposits. 

The deposit’s high-grade iron ore, crucial for steel production, could have far-reaching effects on international trade, infrastructure development, and resource management, potentially reshaping the global economy for decades to come.

By Naila Huseynova