Re:US Steel, once the largest corporation, agrees to sell to...
by ethbr1 on Monday December 18, 2023 @01:08PM
(#38686059)
A huge amount of global iron ore comes from Australia. [0,1]
And globally in descending reserves order: Australia, Brazil, Russia. China's extraction:reserves ratio is much higher and will exhaust reserves much quicker than the others.
So it'd make more sense to smelt it close, given the volume/weight ratio of ore to refined material.
Transport by sea... but that's still A LOT of tonnage to move ore.
And globally in descending reserves order: Australia, Brazil, Russia. China's extraction:reserves ratio is much higher and will exhaust reserves much quicker than the others.
So it'd make more sense to smelt it close, given the volume/weight ratio of ore to refined material.
Transport by sea... but that's still A LOT of tonnage to move ore.
[0] https://www.statista.com/statistics/267381/world-reserves-of...
[1] https://en.m.wikipedia.org/wiki/List_of_countries_by_iron_or...