A Realistic Look At Taconite Estimates

On account of the tremendous increase in the production of steel there has been much speculation as to the reserves of iron ore. A number of estimates of world scope have been published, which show that these reserves are definitely limited if a long range view is taken. There are, however, optimists who believe that in perhaps two generations the metallurgy of iron will have advanced to the point where any kind of iron mineral combination of perhaps 20 pct iron will be usable. This thinking has been particularly applied to the new taconite developments of the Mesabi Range, for here is an iron formation of such vast extent that its iron could almost last forever. Let us briefly examine this most favorable of all low grade ore reserves in North America. Nothing will be said about the 1,000 million long tons of material now classified as ore, for they will be largely gone in less than 20 years.