Editing Iron ore (section)

=== Magnetite ores ===
The key parameters for magnetite ore being economic are the [[crystallinity]] of the magnetite, the grade of the iron within the banded iron formation host rock, and the contaminant elements which exist within the magnetite concentrate. The size and strip ratio of most magnetite resources is irrelevant, as a banded iron formation can be hundreds of meters thick, extend hundreds of kilometers along [[Strike and dip|strike]], and can easily come to more than three billion or more tonnes of contained ore.

The typical grade of iron at which a magnetite-bearing banded iron formation becomes economic is roughly 25% iron, which can generally yield a 33% to 40% recovery of magnetite by weight, to produce a concentrate grading in excess of 64% iron by weight. The typical magnetite iron ore concentrate has less than 0.1% [[phosphorus]], 3–7% [[silica]], and less than 3% [[aluminium]].

As of 2019, magnetite iron ore is mined in [[Minnesota]] and [[Michigan]] in the [[United States]], eastern [[Canada]], and northern [[Sweden]].<ref>{{Cite journal|last1=Troll|first1=Valentin R.|last2=Weis|first2=Franz A.|last3=Jonsson|first3=Erik|last4=Andersson|first4=Ulf B.|last5=Majidi|first5=Seyed Afshin|last6=Högdahl|first6=Karin|last7=Harris|first7=Chris|last8=Millet|first8=Marc-Alban|last9=Chinnasamy|first9=Sakthi Saravanan|last10=Kooijman|first10=Ellen|last11=Nilsson|first11=Katarina P.|date=2019-04-12|title=Global Fe–O isotope correlation reveals magmatic origin of Kiruna-type apatite-iron-oxide ores|journal=Nature Communications|language=en|volume=10|issue=1|page=1712|doi=10.1038/s41467-019-09244-4|pmid=30979878|pmc=6461606|bibcode=2019NatCo..10.1712T|issn=2041-1723|doi-access=free}}</ref> Magnetite-bearing banded iron formation is mined extensively in [[Brazil]] as of 2019, which exports significant quantities to [[Asia]], and there is a nascent and large magnetite iron ore industry in [[Australia]].