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SIMEC Mining owns and operates a 10m tonne per annum iron ore mine in the Middleback Ranges in South Australia, approximately 60 kilometers from the town of Whyalla. These operations incorporate the Iron Baron, Iron Knob and South Middleback Ranges mine sites.

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Iron ore is the raw material used to make pig iron, which is one of the main raw materials to make steel—98% of the mined iron ore is used to make steel. Indeed, it has been argued that iron ore is "more integral to the global economy than any other commodity, except perhaps oil".

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Iron ore mining methods vary by the type of ore being mined. There are four main types of iron ore deposits worked currently, depending on the mineralogy and geology of the ore deposits. These are magnetite, titanomagnetite, massive hematite and pisolitic ironstone deposits.

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Australia's iron ore reserves and resources are in both hematite and magnetite ores. Because of the high average grades (% Fe) of hematite ores when compared to the average grades for magnetite ores, it is necessary to report national resources in terms of contained iron.

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Prices for iron ore and coking coal, the two key ingredients for steelmaking, are set to remain buoyant for the remainder of the year, Macquarie Bank predicted in a recent report.

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Iron ore is one of the top three commodities mined in the world. The raw material, which is typically found in rocks and minerals, is rich in iron oxides and usually found in the form of magnetite, hematite, goethite, limonite or siderite.

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