Materials and Energy Balance . Iron ores contain large amounts of the iron ore minerals and relatively small amounts of gangue Although ores as low as 2530% Fe are smelted after concentration, most directly smelted ores contain about 50% Fe Hematite(Fe 2 O 3 ) – Most important ore mineral of iron Magnetite(Fe 3 O 4 ) – Magnetic mineral Limonite(Fe 2 O 3 .xH 2
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