state the significance of irom ore in the development of the country.
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The Economist has referred to iron ore as the most important commodity after oil and stated that the development of processes to turn raw earth into steel one of “mankind's most ingenious achievements.” ... In fact, it is estimated that 98% of iron ore extracted today is destined for steel production.
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The use of Steel and iron or copper depends on the level of development of a particular economy. developing countries like China India consume much more Steel as compared to other countries that they are less developed. Steel consumption per capital is one of the major indication for level of development of a country.
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