The growth of smelting in India, China and Australia illustrates this tendency.
Iron ore reserves are so large, so varied, and so widely distributed over the globe, that they will supply demands upon them to the remote future. Reserves become available and valuable only by the expenditure of effort and money. Ores are the multiplicand and man the multiplier in the product which represents value or availability. Iron ore can be made available, when needed, almost to any extent, but at highly varying cost and degree of effort. The highest grade ores, requiring minimum expenditure to make them available, are distinctly limited as compared to total reserves. Any waste in their utilization will lead more quickly to the use of less available ores at higher cost. One of the significant consequences of the exhaustion of the highest grade reserves will be an increased draft upon fuel resources for the smelting of the lower grade ores. Availability of iron ores is limited, not by total reserves, but by economic conditions.
Geologic Features
Iron rarely exists in nature as a separate element. It occurs mainly in minerals which represent combinations of iron, oxygen, and water, the substances which make up iron rust. Very broadly, most of the iron ores might be crudely classified as iron rust. In detail this group is represented by several mineral varieties, principal among which are hematite (Fe2O3), magnetite (Fe3O4), and limonite (hydrated ferric oxide). Iron likewise combines with a considerable variety of substances other than oxygen; and some of these compounds, as for instance iron carbonate (siderite), iron silicate (chamosite, glauconite, etc.), and iron sulphide (pyrite), are locally mined as iron ores. While an ore of iron may consist dominantly of some one of the iron minerals, in few cases does it consist exclusively of one mineral. Most ores are mixtures of iron minerals.
Fully nine-tenths of the iron production of the world comes from the so-called hematite ores, meaning ores in which hematite is the dominant mineral, though most of them contain other iron minerals in smaller quantities. About 5 per cent of the world's iron ores are magnetites, and the remainder are limonites and iron carbonates.
Iron ores are represented in nearly all phases of the metamorphic cycle, but the principal commercial values have been produced by processes of weathering and sedimentation at and near the surface.
Sedimentary iron ores. Over 90 per cent of the world's production of iron ore is from sedimentary rocks. The deposits consist in the main either of beds of iron ore which were originally deposited as such and have undergone little subsequent alteration, or of those altered portions of lean ferruginous beds which since their deposition have been enriched or concentrated sufficiently to form ores. A minor class of iron ores in sediments consists of deposits formed by secondary replacement of limestones by surface waters carrying iron in solution.
- Deposits of the first class,—originally laid down in much their present form,—are usually either oölitic, i. e., containing great numbers of flat rounded grains of iron minerals like flaxseeds, or consist in large part of fossil fragments of sea shells, replaced by iron minerals. The Clinton ores of the Birmingham district, the Wabana ores of Newfoundland, the minette ores of the Lorraine district in central Europe, and the oölitic ores of northern England are all