Australia is one of the world’s largest iron ore producers.
Iron ore is found from hematite and magnetite rocks, where metallic iron can be economically extracted. Hematite iron ore operators are generally lower cost. Magnetite is typically lower grade and requires processing; however a miner can make a lot more money, as the iron can be sold for a premium. 98% of mined iron is used to make steel.
BHP Billiton [ASX:BHP] and Rio Tinto [ASX:RIO] are two the largest iron ore producers on the Australian Securities Exchange. Fortescue Metals Group [ASX:FMG] is also a well-known company. Of course, the iron ore space isn’t limited to those three stocks. There are lots of mid-tier producers and smaller explorers looking for iron ore. So, if you’re interested in reading about the latest analysis on iron ore, you’ve come to the right place. Our editors frequently cover the sector.