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Australia is an iron ore powerhouse, accounting for about 37 percent of the world's exports of the commodity. How can investors get exposure to this massive market?
It is more common than air, but invaluable to our society. We use it to build, craft and make steel and other alloys, and it shows up in everything from buildings to utensils.
Iron is one of the fundamental elements used by humans. It makes sense, then, to consider iron as an investment opportunity. The ubiquity of the metal, not just in our environment, but in our daily life, shows off its value. That value can be translated into an investor's portfolio.
When we specifically talk about iron in Australia, we are talking about the largest export in the country — it just narrowly edges out coal. Both the price and the production of iron have increased over the past five years, with most of Australia's iron being mined in Western Australia.
More than 37 percent, amounting to around 900 million tonnes, of the world's iron exports come from Australia. In this regard, Australia ranks number one globally. Its nearest rival is Brazil, with 400 million tonnes of iron exports, accounting for 16.7 percent — less than half of Australia's output.
Although the iron price is down in 2022, that's only compared to the massive highs it saw last year. Ignoring 2021's iron price spike, the iron price has not been at the levels seen currently since 2013.
The outlook is that this price trend will not continue indefinitely, and might take a few hits over the next several years. The Australian government expects price averages to drop from AU$142 per tonne in 2021 to AU$66 by 2023, and the profitability of that decline is questionable. Ultimately, the expectation is that the industry will remain solid, but will not continue to experience the exciting climb that it has, up until recently, enjoyed.
So why should investors consider iron? The short answer is that iron is here to stay. Market fluctuations are one thing — these ups and downs happen — but because of the nature of iron and how much people use and need the metal, at the end of the day, this industry is essential to our way of life.
Iron ore in Australia: Key players to consider
When looking at major players in Australian iron, three names repeatedly come up: BHP (ASX:BHP,LSE:BHP,NYSE:BHP), Rio Tinto (ASX:RIO,LSE:RIO,NYSE:RIO) and Fortescue Metals Group (ASX:FMG).
Data for the following list was gathered from TradingView's stock screener on April 7, 2022, and the companies are listed in order of largest market cap to smallest.
1. BHP
Market cap: AU$260.25 billion; current share price: AU$51.94
Mining giant BHP's iron ore business includes integrated iron ore mines, rail and port operations in the Pilbara region of Western Australia. In addition to iron ore, the diversified Anglo-Australian company produces copper, nickel, metallurgical coal, petroleum and potash.
2. Rio Tinto
Market cap: AU$176.4 billion; current share price: AU$118.98
Diversified miner Rio Tinto produces iron ore, aluminium, copper, borates, lithium, diamonds, titanium dioxide and salt. In Western Australia, the company puts out five iron ore products; one of these is the Pilbara Blend, which the company calls "the world’s most recognised brand of iron ore."
3. Fortescue Metals Group
Market cap: AU$66.69 billion; current share price: AU$21.83
Fortescue Metals Group is based in Western Australia and has multiple operations in the Pilbara region. The company is one of the world's biggest iron ore producers, and sells its material globally, but mainly to China.
Don't forget to follow us @INN_Australia for real-time news updates!
Securities Disclosure: I, Ryan Sero, hold no direct investment interest in any company mentioned in this article.
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Marquee Resources Limited (Company or Marquee) (ASX: MQR) is pleased to announce that drilling at the highly prospective Kibby Basin Lithium Project (Project) in Nevada, USA has commenced.
- Marquee commences drilling at the highly anticipated Kibby Lithium Project in Nevada. The Project is fully permitted for water extraction for the use of brine processing and production of lithium compounds within the 2,560 acres (~10.35sqkm) Project, a key feature should a Large-Scale brine and clay lithium deposit be identified.
- The two (2) stage drill program for a total 3,000 metres across three (3) drill holes will target a highly conductive geophysical anomaly, which has the signature for a potential lithium enriched aquifer beneath the Kibby Playa (dried lakebed).
- The Project is located ~4 hours from Tesla’s Gigafactory Number 1 and ~50kms north of ASX-listed Ioneer Ltd's (ASX: INR) flagship Rhyolite Ridge Lithium-Boron Project which has recently been Joint Ventured with Sibanye Stillwater Limited (Sibanye-Stillwater) to develop the project, with Sibanye- Stillwater contributing US$490 million for a 50% interest in the Joint Venture.
- The setting of the Kibby Valley is a 7.4km long structure identified with characteristics interpreted to be akin to major structures bounding the south side of Clayton Valley, indicating a basin large enough to develop layers that could act as aquifers, as well as allow for development of a favourable hydrogeologic setting to host lithium‐bearing brines.
The two (2) stage – 3,000 metre drill program across three drill holes will target a highly conductive geophysical anomaly, which has the signature for a potential lithium enriched aquifer beneath the Kibby Playa (dried lakebed).
Figure 1 - Kibby Basin Section and Proposed Drill Holes
The objective of the drill program is to delineate a lithium-enriched brine aquifer deposit in Kibby Basin, Nevada, USA that is amenable to mining, using wells to extract brine for processing to a saleable lithium hydroxide monohydrate (LiOH∙H2O) product.
The potential deposit type is a continental, mineral-enriched brine aquifer within a hydrographically closed basin (endorheic basin). Continental brines are the primary source for lithium products worldwide. Bradley and others (2013) noted that “all producing lithium brine deposits share several first-order characteristics: (1) arid climate; (2)closed basin containing a playa or salar; (3) tectonically driven subsidence; (4) associated igneous or geothermal activity; (5) suitable lithium source-rocks; (6) one or more adequate aquifers; and (7) sufficient time to concentrate a brine.”
The Project target is a potential lithium enriched aquifer at an estimated 800-1,000 metre depth. It is at this depth, Albermarle, who owns the only producing lithium mine in North America which is located in Clayton Valley has been successfully extracting lithium brines.
Kibby Basin Lithium Project