Iron ore discovery Western Australia: 55 billion-ton find in Hamersley

Introduction: Why the discovery matters

The recent iron ore discovery in Western Australia has attracted global attention for its scale and potential economic impact. Reported finds of about 55 billion metric tons in the Hamersley region, valued at roughly US$6 trillion, could influence international commodity markets, state revenue and the future of Australia’s resources sector. Understanding the size and context of this find is important for communities, investors and policymakers.

Main body: Details and industry context

The discovery

Geologists have identified what has been described in reports as the world’s largest iron ore deposit in Western Australia’s Hamersley Basin, estimated at 55 billion metric tons and given a nominal value of US$6 trillion. Early coverage frames the scale as unprecedented for the state’s established iron ore industry.

Industry backdrop in Western Australia

Iron ore already plays a dominant role in Western Australia’s resources sector. In the 2018–19 financial year the industry accounted for 54 percent of the total value of the state’s resource production, valued at A$78.2 billion. The Western Australian Government received A$9.8 billion in royalties from the iron ore mining industry in 2020–21, underscoring the sector’s fiscal importance.

Existing operations and capacity

Major mining companies operate extensive iron ore programs in the state. According to available industry data, Rio Tinto operates twelve iron ore mines in Western Australia, BHP operates seven and Fortescue runs two; those operations are located in the Pilbara region. Historical expansion projects, such as the Jimblebar mine expansion launched in 2010, aimed to increase Pilbara production capacity to about 240 million tonnes annually by 2013. Government departments also maintain lists of major active iron ore mines for 2022–23.

Conclusion: Implications and outlook

If the Hamersley discovery is confirmed and developed, it could materially affect global iron ore supply and strengthen Western Australia’s economic footprint. Realising value from such a deposit would depend on feasibility studies, approvals, infrastructure and market conditions. For readers, the discovery is significant as a potential source of long-term revenue, employment and investment, while also shaping discussions about resource management and regional development.