The Hamersley region, long known for its mineral wealth, has been mined for decades. However, the full extent of its resources was not realized until recently.
With the recent advancements in geological surveying and mining technology, researchers have been able to identify this immense deposit with greater accuracy. According to experts, modern techniques such as remote sensing, deep drilling, and 3D subsurface mapping played a key role in uncovering the full scale of the reserve…
Davies noted that the size and purity of the ore could influence global prices and shift trade dynamics, especially between Australia and major steel-producing countries like China. The discovery is expected to boost Australia’s dominant position in the global iron ore market. Australia is currently the largest exporter of iron ore, and this new reserve strengthens its lead. The new resource may also help secure long-term supply chains…
Australia has a China problem.
China sucks a lot of raw resources out of Australia, therefore, Australia is extremely dependent on China.
Similar to EU’s Russia energy problem.
China is extending its aggressive gray zone military activities to the ocean waters surrounding Australia.
So far Australia is “pontificating” weakly.
Perhaps if Australia would build iron ore refining n manufacturing, Australia could better resist the Chinese hegemony.
Australia’s problem is geography. China is the closest major economy. Their influence dominates. That is difficult to avoid. No doubt India, Japan, and South Korea also participate.
A lot of countries start out being an extraction economy and eventually develop self sustaining industries, working their way up the value chain. I’m surprised Australia doesn’t have policies that encourage this (*or perhaps they do, I don’t know enough about it to comment, really.)
Steel manufacturing requires electricity and labor. So either China or India can setup a steel manufacturing plant in Australia with labor imported from their respective countries and use solar for electricity.
There has been some recent talk about extracting natural hydrogen gas from iron-rich ores.
Geologic hydrogen, as it’s known, is produced when water reacts with iron-rich rocks, causing the iron to oxidize. One of the grant recipients, MIT Assistant Professor Iwnetim Abate’s research group, will use its $1.3 million grant to determine the ideal conditions for producing hydrogen underground — considering factors such as catalysts to initiate the chemical reaction, temperature, pressure, and pH levels. The goal is to improve efficiency for large-scale production, meeting global energy needs at a competitive cost.
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Aside from the value of the iron, perhaps this Australian find can also be an energy source.
Australia’s economy is quite robust, characterized by long, interrupted periods of economic growth, which is dominated by services, and pumped up by immigration. It has a high per capita GDP, and high standards of living, and a robust social safety net. It is not all rosy. The cost of beer is insane. They really need to manage that part better.
Modern extraction (like agriculture) isn’t like in grandad’s day. It isn’t enough to have a source of ore anymore. Modern mining requires enormous financial and technical inputs. Not every country can do it.
