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MQM Blog – Understanding Iron Ore: The Building Block of Modern Infrastructure
Iron ore serves as the foundation for modern infrastructure and industry. It is a key resource in the construction of buildings, transportation systems, and communication networks. As the demand for infrastructure and development continues to grow, the importance of iron ore in meeting these needs cannot be overstated. This article will explore the various aspects of iron ore, its significance in modern infrastructure, and the challenges faced by the industry.
The Significance of Iron Ore in Modern Infrastructure
Iron Ore in the Construction of Buildings
Iron ore is used to make steel, the foundation of some of the world’s tallest buildings. The Empire State Building, for example, contains 57,000 tons of steel. Steel is also essential in the construction of roads and travel infrastructure, with six billion tons of steel used in the U.S. national highway system.
Aluminum is another essential mineral in construction and manufacturing, with 730 tons of it used in the Empire State Building alone. Both steel and aluminum are critical in the construction of bridges, railways, and airports due to their durability and resilience.
Iron Ore in Transportation Systems
Iron ore plays a crucial role in the development and sustenance of transportation systems worldwide. As a vital component in steel production, it contributes significantly to the construction of various transportation infrastructure such as bridges, tunnels, rails, and highways. These infrastructures are indispensable for facilitating the smooth flow of goods, services, and people across geographical boundaries.
Moreover, the transportation sector itself heavily relies on vehicles and vessels made from steel, which is primarily derived from iron ore. Ships, trains, and automobiles are all manufactured using steel components, which provide strength, durability, and reliability. The demand for iron ore in transportation systems is expected to remain high as nations continue to invest in infrastructure development and vehicle production. This highlights the importance of sustainable iron ore mining and processing practices to ensure the continued growth and efficiency of global transportation networks.
Iron Ore in Communication Grids
Communication networks rely on copper, another key metal in infrastructure. Copper’s flexibility, conformity, thermal and electric conductivity, and resistance to corrosion make it the metal of choice in the industrial world. Forty-three percent of the U.S. copper demand comes from the construction industry alone, due to its use in electricity, plumbing, and roofing.
Importance of the Labrador Trough for North American Steel
The Labrador Trough plays a significant role in the North American steel industry due to its vast reserves of high-grade iron ore deposits. These deposits are essential for producing steel, a critical component in construction, automotive, and other major industries. The region’s strategic location provides easy access to both the Canadian and American markets, ensuring a steady supply of raw materials for steel production.
Moreover, the Labrador Trough’s proximity to major shipping routes enables cost-effective transportation of iron ore to processing facilities in North America and Eurpore. This competitive advantage ensures that the region remains an essential contributor to the continent’s steel production capabilities. In conclusion, the Labrador Trough is vital for the North American steel industry, as it guarantees a reliable source of high-quality iron ore, thus fostering economic growth and industrial development across the region.
According to a government of Newfoundland and Labrador presentation, the region has around 80 billion tons of known iron ore resources. MetalQuests Mining’s Lac Otelnuk Project has a historical Ni 43-101 Resource Estimate and Feasibility Study of around 20 billion tons of iron ore, at the measured and indicated categories.
The Role of Junior Miners in Infrastructure Development
Junior miners are in the business of finding the mines of tomorrow. Oftentimes this is a risky endeavor and involves years of exploration and development. There is no guarantee that a project with a proven resource will ever go into production because there are other factors involved such as engineering challenges, environmental, community relations and government permits. To understand these factors, projects initiate preliminary economic assessments (PEA) followed by a feasibility study (FS). Depending on the scale of the project, these studies can cost millions of dollars and take years to complete. The Lac Otelnuk Iron Ore Project, owned 100% by MetalQuest Mining (TSXV:MQM), has a Feasibility Study that was completed in 2015. The Company has minimal overhead costs and the Project claims remain in good standing. The Go-Forward Plan involves establishing working relations with the First Nations in the area and finding a joint venture partner to further develop the project. Click here to read a full press release explaining the go forward plan and corporate update. https://metalquestmining.com/news/metalquest-mining-corporate-update/.
The Four Pillars of Modern Civilization
Cement, steel, plastics, and ammonia are the four most essential materials in modern civilization. They are all required in larger quantities than any other inputs and are heavily dependent on the combustion of fossil fuels for their mass-scale production.
Steel: The Backbone of Modern Civilization
Steel’s strength, durability, and versatility make it the most widely used metal in the world. It forms the backbone of modern infrastructure, from skyscrapers to transportation systems, and is essential in the production of other metallic and non-metallic products.
Ammonia: The Most Important Material
Ammonia is the most critical of the four materials, as it forms the basis of all nitrogen fertilizers, which are essential for feeding nearly half of the world’s population. Feeding three out of five Chinese people depends on the synthesis of ammonia.
The Ubiquity of Plastics
Plastics are a large group of synthetic organic materials that can be molded into desired shapes. They are now ubiquitous and indispensable in healthcare and hospitals, forming the majority of items used in maternity wards and intensive care units.
Cement: The Key Component of Concrete
Cement is the key component of concrete, making it the most massively deployed material in modern infrastructure. It is used in the construction of cities, bridges, tunnels, roads, dams, runways, and ports.
Fossil Fuels: The Indispensable Energy Source for Material Production
Challenges in Decarbonizing Material Production
The pervasiveness of fossil fuel dependence and its magnitude make decarbonizing the material production industry exceptionally challenging. Replacing fossil fuels in material production will be far more difficult and costly than generating electricity from renewable (wind or solar) sources.
The Transition to Greener Steelmaking
As the steel industry is responsible for a significant portion of global carbon dioxide and greenhouse gas emissions, transitioning to greener steelmaking processes is essential. One such process is the direct reduced iron (DRI) method, which uses an electric arc furnace (EAF) and has the lowest CO2 emissions of any commercially proven steelmaking route.
There are significant barriers to overcome in making greener steelmaking processes commercially viable, including the need for technological innovation and the challenge of scaling both DRI capacity and hydrogen infrastructure. Furthermore, the availability of high-quality iron ore pellets, required for DRI-EAF steelmaking, is a potential issue.
Collaborations for a Low-Carbon Future
Innovative collaborations between industry players can help redefine the way the steel industry operates, driving it toward meeting sustainability targets and evolving societal expectations. One example of such a collaboration is the partnership between Anglo American and Bahrain Steel, aiming to convert up to two million tonnes of Minas-Rio’s pellet feed into high-grade iron ore pellets annually.
The Future of Iron Ore in Infrastructure Development
As the demand for infrastructure continues to grow, so too will the need for iron ore. The transition to scrap-based production will be essential, with the demand for scrap metal rising at a faster rate than that for primary material. Efforts to decarbonize material production and invest in innovative technologies will be critical in the ongoing development of modern infrastructure.
In conclusion, understanding the role of iron ore in modern infrastructure is crucial for the continued development of our society. As we move towards a more sustainable future, it is essential to address the challenges faced by the iron ore industry and invest in innovative solutions that will help reduce its environmental impact while meeting the growing demand for infrastructure and development. MetalQuest Mining understands that demand for Steel and thus Iron Ore is intertwined with civilization. Having one of the biggest undeveloped Iron Ore Project in North America gives our shareholders the possibility and opportunity to gain exposure to a mega project.