Australia hits a $5.7 trillion jackpot: Why this ore find could reshape the world
Produced by: Manoj Kumar
Historic Discovery
Australia’s Hamersley region now holds the largest iron ore deposit ever found—55 billion metric tons of high-grade ore, valued at a staggering $5.7 trillion USD.
Geology Rewritten
Researchers from Proceedings of the National Academy of Sciences (PNAS) revealed that these formations are 1.4 billion years old, far younger than the 2.2 billion years once believed.
Tectonic Power
The find links Earth’s supercontinent cycles and tectonic shifts to rapid mineral formation, showing that massive geological events—not slow processes—built this iron treasure.
Volcanic Birth
Osmium isotope studies show massive volcanic activity 1.4 billion years ago infused the environment with iron, creating one of Earth’s richest ore fields.
Iron Purification
Associate Professor Martin Danisík explains that ancient atmospheric and ocean changes helped transform low-grade 30% iron deposits into 60% high-grade ore, boosting their modern value.
Economic Giant
At $105 per metric ton, this discovery has a potential value of $5.7 trillion, setting Australia up for decades of dominance in the global iron ore trade.
Steel Future
With global demand for steel rising, this high-quality iron ore is essential for infrastructure, tech, and energy, making Hamersley a keystone for industrial development.
Global Hunt
The discovery will reshape mining strategies worldwide, as scientists now target areas shaped by ancient tectonic movements for future massive ore finds.
Scientific Milestone
As a co-author noted, linking iron deposits to supercontinent breakups unlocks new ways to understand Earth’s ancient processes—and to locate future mineral riches.