Vast Iron Ore Deposit Discovered in Western Australia Could Reshape Global Markets

Geologists have identified what is being described as the world’s largest-ever iron ore deposit in Western Australia, a discovery that could significantly influence global commodity markets. The find, located deep beneath the remote Hamersley region in the Pilbara, is estimated to contain around 55 bn metric tons of high-grade ore with iron content exceeding 60%, potentially valuing the resource at about £4.5 trillion.

Researchers, including scientists from Curtin University, say the unusually high purity of the ore would allow more efficient extraction with less waste than typical deposits. Beyond its economic significance, the discovery has also prompted a reassessment of the region’s geological history, revising the age of key formations by hundreds of millions of years.

While any mining development would take years and require extensive environmental approvals and consultations with Traditional Owners, analysts say the find could strengthen Australia’s dominance in iron ore exports and reshape global supply dynamics, particularly for major steel producers such as China.

Kursiv Uzbekistan also reports that Uzbekistan formally joined the Board of Peace on Gaza after President Shavkat Mirziyoyev signed an accession agreement.