Australia, from its known resources, cannot be regarded as being as well endowed with deposits of high-grade iron ore as are America, Europe and Asia. Australian iron ore resources consist of about 400 million tons of demonstrated reserves, about 200 million tons of inferred reserves, about 150 million tons of indicated and inferred marginal resources (of which about 130 million tons are inferred), and a comparatively large tonnage of latent resources (2,000 - 37000 million tons). The current annual rate of consumption is about 4 million tons, but this could conceivably rise to 9 million tons by 1970. Demonstrated reserves are sufficient for 30-40 years on the basis of the higher annual rate of consumption. Marginal and latent resources are potential ores only and may never become an economic source of iron. Iron ores are widely distributed throughout Australia and its Territories, but the bulk of production has come from the Middleback Ranges near Whyalla in South Australia, and Yampi Sound in Western Australia. Small production has come from other deposits including current production from Koolyanobbing, Western Austra
