1 bln tons of iron ore deposit discovered in Liaoning

According to sources from the Ministry of Commerce, geologists have discovered an iron ore deposit in Liaoning Province, northeast of China, with expected reserves at least 1 billion tons.

Wang Wenqing, deputy head of the Liaoning Provincial Survey Academy of Geology and Mineral Resources, said that the deposit, through more than two years' exploration, is located in the city of Benxi, and was between 1.280 meters and 1.500 meters underground.

But he added it would take a long time before they could begin excavating.

The explored sample showed that the iron ore is mainly hematite or magnetite, and the average iron content is 34.68%, according to Yu Wenli, head of the Liaoning Provincial Bureau of Geology and Mineral Resources Exploration.