Scientists find THIS rare metal which can reshape the world, it is worth Rs…, found in…

This monumental discovery has the potential to revolutionise the mining industry and reshape our understanding of the Earth’s geological history.

In a stunning development that has sent ripples across the globe, scientists in Western Australia have found a massive iron ore deposit. Initial estimates suggest this find could be valued in the trillions of dollars. This monumental discovery has the potential to revolutionise the mining industry and reshape our understanding of the Earth’s geological history. Beyond its economic implications, this find holds significant scientific value, potentially altering existing theories about the Earth’s formation. The discovery promises to be a pivotal moment, impacting both economic landscapes and scientific knowledge.

What is the price of this rare iron ore?

The newly discovered iron ore deposit in Western Australia is estimated to contain a staggering 60 billion short tons of iron. At an average market price of USD 95 per short ton, the deposit is valued at approximately USD 5.775 trillion. The sheer scale of this deposit has taken experts by surprise, challenging previous scientific understanding of iron formation within the Earth. According to a report from the Sustainability Times, Dr. Liam Courtney-Davis stated that this discovery could prompt a reevaluation of existing theories on mineral formation deep beneath the Earth’s surface.

How many years old is this iron deposit?

The iron ore deposit is situated in the Hamersley region. Adding to its significance, the deposit’s age is also a subject of scientific interest. Initial estimates placed its age at 2.2 billion years, but recent research suggests it could be as young as 1.4 billion years old. This revised age estimate may be linked to the movements of supercontinents, which were massive land formations that existed in the distant past. A scientist involved in the study noted that the correlation between iron deposits and supercontinents enhances our comprehension of the Earth’s geological timeline. This discovery could offer valuable insights into the evolution of the Earth’s surface over vast periods.

How it can reshape the world?

Australia’s already prominent position in the global mining sector is poised to be further strengthened by this new discovery. This finding has the potential to reshape international trade agreements and influence iron prices worldwide. Furthermore, the discovery may compel scientists to reevaluate existing theories on the formation of minerals on Earth. Associate Professor Martin Danisík noted that the timeline of how these iron formations evolved over time was previously unclear, but this discovery offers an opportunity to enhance our understanding of these geological processes.

_{Images are for reference only.Images and contents gathered automatic from google or 3rd party sources.All rights on the images and contents are with their legal original owners.}