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Magnetite has been important in understanding the conditions under which rocks form. Magnetite reacts with oxygen to produce hematite, and the mineral pair forms a buffer that can control how oxidizing its environment is (the oxygen fugacity). This buffer is known as the hematite-magnetite or HM buffer.
Sand used for mining typically had anywhere from 19% magnetite to as low as 2%. The ironsand typically had to be separated from the sand mixture. Because the magnetite is usually heavier than quartz, feldspar, or other minerals, separation was usually done by washing it in sluice boxes (a method similar to gold panning but on a larger scale).
Horizons containing magnetite as the dominant mineral have been extensively mined since 1955 to produce iron ore pellets; the term 'taconite' has consequently been colloquially adapted to describe the magnetite iron-formation ores (taconite iron ore), the mining, milling, magnetic separation, and agglomerating process (taconite process), and ...
Banded iron formation from the Barberton Greenstone Belt, South Africa. A typical banded iron formation consists of repeated, thin layers (a few millimeters to a few centimeters in thickness) of silver to black iron oxides, either magnetite (Fe 3 O 4) or hematite (Fe 2 O 3), alternating with bands of iron-poor chert, often red in color, of similar thickness.
As of 2019, magnetite iron ore is mined in Minnesota and Michigan in the United States, eastern Canada, and northern Sweden. [8] Magnetite-bearing banded iron formation is mined extensively in Brazil as of 2019, which exports significant quantities to Asia , and there is a nascent and large magnetite iron ore industry in Australia .
Shaft furnace magnetization roasting is a metallurgical process, mainly used to treat iron ore, so that in a high temperature environment by reacting with reducing agents (such as coal, coke or gas), the iron oxides (such as hematite, limonite, etc.) to reduce to magnetic iron minerals (mainly magnetite).
The Mountain Pass Rare Earth Mine and Processing Facility, owned by MP Materials, is an open-pit mine of rare-earth elements on the south flank of the Clark Mountain Range in California, 53 miles (85 km) southwest of Las Vegas, Nevada. In 2020 the mine supplied 15.8% of the world's rare-earth production.
Erie Mining Company previously mined ore and testing to mine new minerals is ongoing. Keewatin (pop. 1,068) is between Nashwauk and Hibbing. It is home to U.S. Steel's KeeTac taconite mining and processing plant. Kinney (pop. 169) is an old mining boomtown on the Iron Range, between Buhl and Mountain Iron.