Brazilian iron ore discovery may be world's largest

[OilFinder2]

Not sure where else to put this, but anyway . . . This is in the same state that's becoming Brazil's big soybean-growing region.

I'm sure you'll all be excited.
LINK

Brazil Iron-Ore Discovery May Top Vale’s Carajas
By Lucia Kassai

Sept. 2 (Bloomberg) -- Brazil discovered an iron-ore deposit that may be the world’s largest, topping Vale SA’s Carajas mine, a government official said.

The new deposit in Mato Grosso state may contain 11.5 billion metric tons of ore with 41 percent iron content, state Secretary Pedro Nadaf said. State and federal officials haven’t yet determined if the deposit is commercially viable, he said.

“This could be even bigger than Carajas,” Nadaf said today in a telephone interview from Cuiaba, Brazil. Carajas, the world’s biggest iron-ore mine, has 7.1 billion tons of proven and probable reserves, according to Vale, the world’s largest producer of the steelmaking raw material.

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[Sixstrings]

Oilfinder, this isn't 1882 -- a bit of iron ore isn't gonna save the world.

[OilFinder2]

Just think of how much steel for GMC Arcadia's you could make with all that iron ore.

[Pops]

ore with 41 percent iron content, state Secretary Pedro Nadaf said. State and federal officials haven’t yet determined if the deposit is commercially viable, he said.

I don't get it, if the rock is half iron how could it not be commercially viable, is it 5 miles down?

450 million tons of phosphate too.

China will have it locked up in a few weeks.

[OilFinder2]

I don't get it, if the rock is half iron how could it not be commercially viable, is it 5 miles down?

As of now, it's in a pretty remote location.

That said, that was once very true of Carajas, but that didn't prevent it from being developed.

You're probably right about China.