Not all iron ore is created equal. The highest quality and most important iron ores for steelmaking are magnetite (Fe3O4) and hematite (Fe2O3). Hematite is the more sought-after ore and the preferred raw material in the steelmaking process. It accounts for approximately 95% of South Africa’s iron ore production. Overall, Kumba’s iron ore reserves are graded at 65.2% Fe, but we produce two unique lump ore products graded at 66% and 64% Fe.