How to identify iron ore deposits. Magnetite.

In this video I give a brief overview of how to identify an iron ore deposit using a magnet. The mineral shown in this video is magnetite and is a highly concentrated form of iron ore and is therefore a highly sort after mineral. At the time of filming this video, iron ore was selling for $80 USD a tonne. The video itself was filmed near Westmar in South Eastern Queensland in 2019.

# Correction. Banded iron ore formations were formed between 3.8 billion and 1.8 billion years ago. I was way off!

[Michealfarmer]

I need to add a much needed correction to this video. At 1:30 into the video I made the mistake of stating that banded iron ore formations were from 130 million years ago. I was way off! Banded iron ore formations are from 3.8 billion to 1.8 billion years ago. Apologies!

[ericf.wolcott]

I once took a magnet to the sand at our ocean beach on the east coast of the US. Pulled all the black sand out of it of course, if it was magnetic it was not mineral sand but some form of iron.

[BigPoppaCronie]

did that guy say the banded iron deposits were formed 130 million years ago?

[montiacpontana]

Once upon a time, long long time ago. Lol