where is magnetite mined
Currently magnetite iron ore is mined in Minnesota and Michigan in the U.S. , Eastern Canada and North Sweden. Magnetite bearing banded iron formation is currently mined extensively in Brazil, which exports significant quantities to Asia, and there is a nascent and large magnetite iron-ore industry in Australia.he ores are usually rich in iron oxides and vary in color from dark grey, bright yellow, deep purple, to rusty red. The iron itself is usually found in the form of magnetite (Fe 3O 4, 72.4% Fe), hematite (Fe 2O 3, 69.9% Fe), goethite (FeO(OH) , 62.9% Fe), limonite (FeO(OH).n(H2O)) or siderite (FeCO3, 48.2% Fe).