The National Mining Association has produced a new infographic on the importance of iron.
“From energy and construction to transportation and equipment manufacturing, iron ore is critical to nearly every industry. Beyond its applications, iron ore production is an economic stimulant critical to U.S. growth. Because of the U.S.’ immense supply of iron ore, America ranks among the top 10 producers of the metal. In fact, in 2013, the value of iron ore produced in the U.S. amounted to $5 billion. Furthermore, iron ore production supported more than 20,000 direct, indirect and induced jobs in 2012.”
The U.S. Geological Survey notes that “In 2012, mines in Michigan and Minnesota shipped 97% of the usable ore produced in the United States, with an estimated value of $6.0 billion. Thirteen iron ore mines (11 open pits, 1 reclamation operation, and 1 dredging operation), 9 concentration plants, and 9 pelletizing plants operated during the year. Almost all ore was concentrated before shipment. Eight of the mines operated by three companies accounted for virtually all of the production. The United States was estimated to have produced and consumed 2% of the world’s iron ore output.”
I have reproduced NMA’s infographic below. To see a high-resolution copy click here.