Question

B. IRON ORE BECOMES VALUABLE RESOURCE ONLY WHEN IT IS CONVERTED INTO ____________.

Answer 1

when it is coverted into iron

Answer 2

Iron ore becomes valuable resource only when it is converted into iron.

Explanation:

• Iron ores are rocks and minerals from which metallic iron can be economically extracted.
• The ores are usually rich in iron oxides and vary in color from dark grey, bright yellow, or deep purple to rusty red.
• The iron is usually found in the form of magnetite, hematite, goethite, limonite and siderite.
• Ores containing very high quantities of hematite or magnetite are known as natural ore or direct shipping ore meaning they can be fed directly into iron-making blast furnaces.
• Iron ore is the raw material used to make pig iron is one of the main raw materials to make steel 98% of mined iron ore is used to make steel.
• In 2011 financial times has speculated that iron ore is more integral to the global economy than any other commodity except perhaps oil.
• iron ore prices have been decided in closed door negotiations the small handful of miners and steelmakers dominate both spot and contract markets.
• Traditionally the first deal reached between these two groups sets a benchmark to be the rest of the industry.
• Increasing the market demands for more transparent pricing.
• Then a number of financial exchanges and clearing houses around the world have offered iron ore swaps clearing.

To learn more...

1. Name any three major iron ore belts of India.

Write any three characteristics of the southernmost iron belt.

https://brainly.in/question/3355348

2. Why do you think the mining of iron ore and coal received equal importance

https://brainly.in/question/5321272