A massive reserve containing around 55 billion tonnes of high-grade iron ore has been revealed following explorations in the Hamersley region of Western Australia.
According to experts, the reserve has an estimated market value of around USD 5.7 trillion (approximately TL 237 trillion), making it one of the largest iron ore deposits ever recorded on the planet.
One of the Earth's largest reserves
According to geologists, the new reserve in Hamersley has the potential to play a significant role in the global supply of iron ore. Assessments indicate that the deposit ranks among the largest ever discovered.
The 1.4-billion-year-old formation
The geological origin of the discovery is also remarkable. According to a study published in the journal Proceedings of the National Academy of Sciences (PNAS), this massive iron ore deposit formed around 1.4 billion years ago. Scientists attribute the origin of the reserve to tectonic activity that occurred during the breakup of the supercontinent Nuna.
The intense geological upheaval that occurred during this time caused mineral concentrations in the region, ultimately forming the basis of the vast iron ore deposit uncovered today.
Sourced by: Sözcü newspaper
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