2.4 billion of ore, page-2

I like the last bit AUSTRALIAS NEWEST IRON ORE PROVINCE..Mr Woskett said that while magnetite iron currently accounts for about 50% of global iron ore
production, it represents only some 4% of Australian iron ore output, ?suggesting that there
is vast scope for domestic growth in the seaborne trade of magnetite iron?.
Release of the Sumitomo-Minotaur tonnage estimate figure also coincided today with the
announcement of the formation by iron ore explorers in the broader area south and west of
Broken Hill ? a province know as the Braemar Iron Formation ? to form an alliance.
This will help foster and coordinate the necessary government lobbying and infrastructure
investment decisions that can optimise the emergence of the Braemar as Australia?s newest
iron ore province.