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Discovery of country's first iron mine brings glad tidings

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Discovery of country's first iron mine brings glad tidings
Sarwar Md. Saifullah Khaled | Published: July 01, 2019 21:58:49

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Iron is used abundantly in the real estate, construction, various industries and other sectors of the economy. There is a growing demand for it.

Because of this reason and the lack of iron ores in the country, over the past few decades, Bangladesh has been forced to import larger volumes of iron in the form of sea-going old dilapidated ships.

These end-of-life ships are imported and then broken down at the ship-breaking yards to meet the demand of country's iron need. This is why the ship-breaking industry has flourished in Sitakunda area of Chattogram district. But there has been some concerns from environmental groups as such end-of-life ships pollute the environment in various ways.

Under these circumstances, the discovery of the first magnetite iron mine in Dinajpur of the country last month has been welcomed by the government, industries and other stakeholders of the economy.

The Geological Survey of Bangladesh (GSB) discovered the iron mine at Isabpur village in Hakimpur upazila of Dinajpur district. After drilling a well for over two months and following extensive examinations, the GSB made the ground-breaking announcement last month.

Back in 2013, the GSB had detected the existence of mineral substances while drilling a well at Murshidpur, about three kilometres east of Isabpur village. They began digging at Isabpur village on April 19 this year.

It is truly a matter of national pride and joy that we can now boast about having a good quality iron mine. The percentage of iron in the mine is 65, according to GSB. This is higher than mines found in other countries like Canada, China, Brazil, Sweden and Australia. The percentages of iron in the mines of those countries are usually below 50.

According to geological experts, the northern parts of Bangladesh including Dinajpur were under the sea, more than 600 million years back. As a result, in course of time, iron ores were formed in layers of formative rocks there. A 400-feet-thick layer of iron has been found in Isabpur village, almost 1,750 feet beneath the surface. It stretches over 6 to 10 square kilometres.

Moreover, during the discovery of the iron-ore mine, traces of other ores like gold, copper, nickel and chromium have also been found in the layer. Limestone was found at a depth of 1,150 feet. Reserves of coalmine, hard-rock and limestone have already been discovered in Dinajpur and other adjacent areas.

Such discoveries have renewed hopes of sustainable economic growth of the country as such natural resources can be used as raw materials in various sectors.

Experts are hopeful that the extraction of iron ore from the reserves will be economically viable. Good quality iron can help the sectors like construction, real estate, automotive etc. of the country as they have been largely dependent on iron derived from ship-breaking sector till now. This will also save money and time that was wasted in the import process of end-of-life ships.

Once initiated, such a mine project will also create plenty of jobs and ensure better financial conditions for people of the areas where these are located.

All credit for this discovery should go to the GSB team who worked hard and were patient during the entire digging process at the site. It should be noted that the GSB team has found the iron mine without help from any foreign experts and consultants.

This raises hope about the capability of the GSB. It also testifies the fact that with better support from the government, the GSB team can work on many similarly important projects in the near-future. The GSB should be encouraged by the concerned authorities through rewards and higher technological support.
 
According to geological experts, the northern parts of Bangladesh including Dinajpur were under the sea, more than 600 million years back. As a result, in course of time, iron ores were formed in layers of formative rocks there. A 400-feet-thick layer of iron has been found in Isabpur village, almost 1,750 feet beneath the surface. It stretches over 6 to 10 square kilometres.
My apology to @Nilgiri in some other iron ore-related post in another thread. In my post there I assumed 7,800 kg as the unit weight of a cubic meter of iron ore. In fact, this is the unit wt. for steel and the unit wt. of iron ore is 5,150 kg/m^3. So, the assessment value is not $900 billion, but (5.15/7.8) x $900 billion = $594 billion.

Bangladesh can become a rich developed country by properly utilizing this ore to build its steel and other related industries as well as the physical infrastructures. It should try to enter the export market for steel ingot. Steel ingot itself fetches ten times more value than iron ore. For example, when the international iron ore price is $100/ton, the steel ingot price is $1,000/ton.
 
It is truly a matter of national pride and joy that we can now boast about having a good quality iron mine. The percentage of iron in the mine is 65, according to GSB. This is higher than mines found in other countries like Canada, China, Brazil, Sweden and Australia. The percentages of iron in the mines of those countries are usually below 50.
Let's hope it exist in sufficient quantity viable for extraction.
A 400-feet-thick layer of iron has been found in Isabpur village, almost 1,750 feet beneath the surface. It stretches over 6 to 10 square kilometres.
If 400 feet layer uniformly spread over 6-10 sq. km then it means a huge iron ore mine.
Moreover, during the discovery of the iron-ore mine, traces of other ores like gold, copper, nickel and chromium have also been found in the layer. Limestone was found at a depth of 1,150 feet. Reserves of coalmine, hard-rock and limestone have already been discovered in Dinajpur and other adjacent areas.
Big metallic ore never exist in isolation. If this is really a huge iron ore mine, that means other metallic ore can be extracted along with it. Gold, copper, chromium, nickel all are very valuable minerals.

Dinajpur-Naogaon region is very rich in minerals. We have already discovered large quantity of coal and limestone there. More extensive surveys will reveal many other minerals underneath it for sure.
 
My apology to @Nilgiri in some other iron ore-related post in another thread. In my post there I assumed 7,800 kg as the unit weight of a cubic meter of iron ore. In fact, this is the unit wt. for steel and the unit wt. of iron ore is 5,150 kg/m^3. So, the assessment value is not $900 billion, but (5.15/7.8) x $900 billion = $594 billion.

Bangladesh can become a rich developed country by properly utilizing this ore to build its steel and other related industries as well as the physical infrastructures. It should try to enter the export market for steel ingot. Steel ingot itself fetches ten times more value than iron ore. For example, when the international iron ore price is $100/ton, the steel ingot price is $1,000/ton.

Your calculation is still stupid. One look at iron ore reserves for entire massive countries easily shows it.
 
Im not an expert in mining but what i saw in the tv ex petrobangla chairman said that ores are located in the stone layer and like vein and not in one solid continous layer. It is very hard to say wheather the ore can be economically extractable as none of the current operational mine in the world are underground mining except some in sweden
 
Your calculation is still stupid. One look at iron ore reserves for entire massive countries easily shows it.
Yes, I am stupid but my calculation is not. I am just following the geological survey report.
 
Yes, I am stupid but my calculation is not. I am just following the geological survey report.

There was no geographical survey report, the survey is still ongoing. Preliminary layer estimates (especially your extrapolation using 100% rates) dont mean anything. Just look at any iron ore mine in the world, what is their ground footprint compared to total proven reserve.

Anyway like I said, you can just wait and see for yourself. Please read topcat post above yours too.
 
There was no geographical survey report, the survey is still ongoing. Preliminary layer estimates (especially your extrapolation using 100% rates) dont mean anything. Just look at any iron ore mine in the world, what is their ground footprint compared to total proven reserve.

Anyway like I said, you can just wait and see for yourself. Please read topcat post above yours too.
@TopCat is right. But, the report also says the mine has also gold and other expensive minerals. About extraction from a deep mine, it may be difficult but not unaccomplishable. I think you will have to go through a tunnel with a certain slope for the movement of trains. The tunnel mouth will be a little away from the ore deposits.

@TopCat is just waiting to be swindled by that Pradip Sikder guy of the 142-storied skyscraper.
 
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@TopCat is right. But, the report also says the mine has also gold and other expensive minerals. About extraction from a deep mine, it may be difficult but not unaccomplishable. I think you will have to go through a tunnel with a certain slope for the movement of trains. The tunnel mouth will be a little away from the ore deposits.

@TopCat is just waiting to be swindled by that Sikder guy of the 142-storied skyscraper.

You were jumping up and down assuming media quotes = survey report....and rushed to compute whatever "area" was quoted as some full fact.

In fact, they are still assessing even the actual extent of the area....and layer will also vary over the area:

https://bdnews24.com/bangladesh/201...-confirms-first-iron-ore-reserves-in-dinajpur

Iron ore has been found 1300 to 1750 feet deep under ground, he said.

“Now GSB drilling is under way to assess the stretch of the reserves,” he said, adding that several more wells will be needed to be drilled for the work.

“These matters can be confirmed by next three months,” he said.


So why not wait the next 3 months to even get the reserve estimate?

Please be calm and wait:

http://thedailynewnation.com/news/219325/gsb-yet-to-confirm-reserve-of-iron-ore.html

GSB yet to confirm reserve of iron ore

Anisul Islam Noor :

The Geological Survey of Bangladesh (GSB) is yet to confirm how much ore are possible to extract commercially from the newly discovered iron mine in Hili Upazila of Dinajpur district.

Director General (Excavation Engineer) Masud Rana told The New Nation that five to six drilling will be needed to know if its commercially extraction will be possible or not.

On Tuesday, GSB declared that they got iron ore or magnetite mine at the Isabpur village of Hakimpur Upazila of Dinajpur.

Masud Rana said, "The second stage of drilling is going on now to know the amount of its reserve."

He said, the reserve of iron ore is the highest in the mine, but there is very little amount of chromium. The presence of Nickel and Copper re also found, but there is no gold.

The excavation work is being conducted in search of minerals t Isabpur village.

Masud Rana said, "There is a lot of thickness where the drilling is being earning out , but more drilling is needed to know the amount of reserves."
 
So, we will wait for three months or more. But, it is true the mine is too large and a new report may say it is larger than now expected, who knows?
 
So, we will wait for three months or more. But, it is true the mine is too large and a new report may say it is larger than now expected, who knows?
Mine is inside the underground rock formation and probably formed by deposition in millions of years when those part was under the sea. Iron are not like precious metal and it will be very difficult to mine from underground and make them competitive. It will take more than a decade to know exactly how much iron we have
 
Iron are not like precious metal and it will be very difficult to mine from underground and make them competitive.
Iron is not precious but the modern civilization is based on it. This mine is supposed to have $500 billion deposit as just raw material. BD has to develop it. I do not really think this mine is sitting in Mars that cannot be mined. Human being has a lot of experience with so many things. Mining deep underground is just one of them.

You are so fond of building underground train lines. Why do you think the same principle cannot be applied to reach the mine by making a tunnel? Only thing is, the slope must be kept within the limit of power of the locomotive but seldom it shall exceed 1:10 because the trains will be fully loaded when climbing up.
 
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Iron is not precious but the modern civilization is based on it. This mine is supposed to have $500 billion deposit as just raw material. BD has to develop it. I do not really think this mine is located in Mars so it cannot be mined. Human being has a lot of experience with so many things. Mining deep underground is just one of them.

You are so fond of building underground train lines. Why do you think the same principle cannot be applied to reach the mine by making a tunnel? Only thing is, the slope must be kept within the limit of power of the locomotive but seldom it shall exceed 1:10 because the trains will be fully loaded when climbing up.
Its not that we can not mine it. but if mining cost substantially more than importing than the mine will not be viable.That was my point
 
Its not that we can not mine it. but if mining cost substantially more than importing than the mine will not be viable.That was my point
It is OK. But, let the mining people do more and more field survey underground and overland. Let also the experienced foreign mining companies study the matter of digging the tunnel and reach the ore surface. They will find out the very approximate amount of ore and the cost of digging it out.

"---------409 and 430 chrome scrap has dropped to a range of $320-$360 and $410-$450 per tonne, respectively".

The above says about steel scrap prices, and the iron ore price is about $103/ton. So, technically, even if the digging makes the price a little higher than the international market prices as above, the country should go for digging its own ores instead of buying scraps at $320/ton from abroad be it a ship or otherwise.
 
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