Discovery of the world's largest iron ore reserve worth $6 trillion

Massive iron ore deposits estimated to be worth around $6 trillion have been discovered in a remote region of Western Australia, marking a pivotal moment that could bring about a fundamental shift in the mining industry.

The Hamersley region — already known for its rich mineral resources — hosts what scientists describe as the largest recorded iron ore deposit ever, containing approximately 55 billion metric tons of ore with iron concentrations exceeding 60%.

Iron ore has been extracted from the Hamersley region for decades, but recent technological advancements and analyses led to this unprecedented discovery.

According to Daily Galaxy, geologist Dr. Liam Courtney-Davis of Curtin University, who co-authored the research published in the Proceedings of the National Academy of Sciences, described the discovery as a transformative moment for the entire mining sector. He noted that the scale and quality of the deposit could impact global iron ore prices and reshape trade relations, especially between Australia and major consumers like China.

Although Australia already holds a dominant position in the global iron ore market, this discovery further strengthens its influence