China's Shandong finds half-million tonne high Fe ore deposit

An estimated 579,700 tonnes of high-grade iron ore have been detected lately in Laiwu in central Shandong, China's top run-of-mine iron ore producing province, according to recent findings of the physical survey team of the Shandong Coalfield Geological Bureau.

The newly discovered iron ore body in Laiwu covers a horizontal projecting plane of about 62,000 square meters, and the average grade of iron ore in the drillholes was assessed at 53.38% Fe, with the maximum grade reaching as high as 61.3% Fe. Green drilling techniques were employed during prospecting to minimize environmental impact, the team revealed.

China had 16.25 million tonnes of iron ore reserves as of the end of 2022, according to the 2023 China Mineral Resources Report published by the country's Ministry of Natural Resources. However, the national average Fe content in China's iron ore reserves is just around 30% Fe, Mysteel Global notes.

The discovery of these high-grade iron ore resources in Shandong is expected to spur increased mining activities in the region, helping China secure its own iron ore resources, Mysteel Global has learned.

Written by Irene Zhuang, zhuangailing@mysteel.com

Edited by Alyssa Ren, rentingting@mysteel.com