Iron in General

Iron ore is a substance that is dug out of the ground that can be refined into a profit. Iron ore is very high in the substance of iron oxides. The iron ore can very from colours as well from a dark grey from a very light rusty colour.  Iron ore is a metal that can rust, it is found in sedimaentary rocks that form over many of years. Iron ore is mainly used in steel to form buildings and other frame work of buildings, iron is a very important part of the reason why that the world has been able to evole so far

Australia's Plentiful Resource

The ten most abundant and money producing natural resources are Bauxite, Coal, Iron Ore, Copper, Tin, Gold, Silver, Uranium, Nickel and Tungsten. The most abundant resource out of these is Iron ore.

Western Australia

Iron ore is mainly dug up in western Australia then any other places in Australia. The image to the left shows, the largest mine in Australia is a mine that is located in the Pilbara region. 95% of the iron that is dug up in Australia is dug up out of Western Australia. The type of weather that exist in western Australia and the type of terrain in Western Australia makes the ideal place for the Iron ore to form then later be dug up and refined into a workable substance.

Income to Australia

The Iron business has expanded around 53% between the years of 2008 and 2009 but in 2010 and 2011 the iron industry to a small slump but lately has regained is foothold in Australia. In September of 2012 the price of iron went below 100 dollars US per Tonne. In the middle of December the iron put back on 70 US dollars.

The numbers say that every time that it shifts by  $10 move in the average iron ore price shifts Australia's export income by roughly $6 billion, with about 60 per cent of the money remaining in the country. These numbers are very important in the fact that 98% of the of the money that Australia makes from resource each year iron ore produces about 94 to about 98% of the income that goes though this county . Iron also produces thousands of jobs every year with some of the biggest companies like Rio Tinto, Atlas and BHP also gets some its profits from iron ore from china