Factors Affecting Probable Future Iron Ore Production

THE best estimate on reserves of iron ore in the Lake Superior district is that made, in 1920, by Mr. R. C. Allen, amounting to 2,947,225,000 tons of assured and probable ore. This includes direct- shipping or so-called merchantable ores, and those capable of beneficiation by demonstrated processes. De- ducting from this the 287,000,000 tons shipped since 1920, leaves a present reserve of approximately 2,500,- 000,000 tons, or; about 50 years' supply. The assured ore in this estimate is given as 1,560,500,000 tons, which checks Mr. Lake's estimate of 1,528,948,000 tons, or about 30 years' supply. This is not a long time in the life of the steel industry, and it can be readily appreciated that the matter is important enough to war- rant the attention it is beginning to receive. The first question that engages our attention is, What is merchantable ore? In 1902 the average of all Mesabi shipments was 56.07 per cent iron and 4.35 per cent silica. Twenty-five years later it had dropped to 51.99 per cent iron, with silica up to 7.92 per cent. It has remained around these figures for' ten or twelve years and, except for a probable rise in silica, can stay there for an indefinite period. Most of these figures I am giving cover the Mesabi Range. Including the other ranges does not change the figures greatly, and the Mesabi Range commands the situation, since it produces about 65 per cent of the total annual tonnage and, according to Mr. Allen, contains 81 per cent of the assured reserves, 50 per cent of the probable reserves, and 66 per cent of both the assured and the probable reserves.