Iron has many uses including the construction of machine parts, building structures, hulls of ships, vehicles and for manufacturing machine tools. Moreover, it is used in appliances and surgical equipment in the form of stainless steel. read more
As a result, the mining of iron ore has remained in the control of a few major companies. Iron ore is the main ingredient in steel, which makes up 95 percent of the metals used in the world per year. Two billion metric tons of raw iron ore are produced in a year. read more