Geologists reveal the world’s largest iron deposit worth $6 trillion that could reshape the global economy

January 20, 2026 by Futura Team  

A colossal iron ore deposit buried deep beneath Western Australia has stunned scientists — with far-reaching consequences for global markets, industrial balance, and our understanding of Earth’s geology itself.

In one of the most significant geological discoveries in decades, researchers have identified a deposit in the remote Hamersley region that could rewrite both mining economics and Earth’s ancient history. Already renowned for its mineral wealth, Hamersley is now home to what experts describe as the largest iron ore formation ever found — an estimated 55 billion metric tons of ore with iron content exceeding 60%.

Valued at roughly $6 trillion, this discovery could shift global trade dynamics and even challenge existing theories about how mineral-rich layers formed deep in Earth’s crust.

Dr. Liam Courtney-Davis, a geologist at Curtin University and co-author of the study published in Proceedings of the National Academy of Sciences, said the finding “may require a complete rethink of large-scale mineral formation processes.”

A monumental resource in Australia’s Pilbara region

The deposit lies in Western Australia’s Pilbara, one of the most resource-rich provinces on the planet. Hamersley’s iron ore has fueled global industry for generations, but recent advances in imaging and isotope analysis revealed reserves far greater than previously thought.

For decades, scientists believed the area’s formations were about 2.2 billion years old. New isotopic testing — including uranium and lead studies — revised that figure to around 1.4 billion years, dramatically altering our timeline for when the region’s iron layers formed.

Associate Professor Martin Danisík, a geochronologist on the project, explained, “Finding a connection between these enormous iron deposits and shifts in supercontinent cycles gives us new insight into ancient geological processes.” The evidence suggests that powerful crustal movements more than a billion years ago created the perfect conditions for mineral concentration on a vast scale.

Geological map of the Pilbara craton with sample locations marked by blue stars (left). Stratigraphic column (right) showing the Hamersley Group, which hosts all the microplaty hematite deposits, and the underlying groups hosting hematite ore clasts. Credit: Proceedings of the National Academy of Sciences

Technology exposes a buried giant

Cutting-edge tools made this discovery possible. The research team used state-of-the-art chemical and isotopic techniques to measure both the extent and purity of the deposit. Earlier estimates had placed the ore’s iron content around 30%, but the new analysis revealed concentrations over 60% — placing it among the richest iron deposits ever documented.

These breakthroughs not only shed light on how these minerals evolved over billions of years but also hint at more efficient, sustainable mining methods. “This isn’t just about science,” said Dr. Courtney-Davis. “These technologies could make mining cleaner, less wasteful, and more environmentally responsible.”

Digitized images of each hand specimen (left) and the corresponding round polished one-inch block extracted from the hand specimen (right). Samples A and B are derived from conglomerate and C-H beds from active martite-microplaty hematite deposits. The banding visible in most samples is a relic of the original BIF bedding. Sample G from the Channar deposit is distinct from all other samples because it has been recrystallized by contact metamorphism. Sample (H) contains fine interbedded orange goethite. Credit: Proceedings of the National Academy of Sciences

A discovery with global economic impact

Australia already dominates the global iron ore market, but this find could reinforce that dominance for decades. Analysts expect it to influence international markets, affecting pricing, supply chains, and even diplomatic relations with major importers such as China.

Beyond economics, the discovery challenges long-held assumptions about Earth’s geological evolution. By studying the Pilbara’s ancient crust in more depth, scientists hope to reveal more about the forces that shaped our planet — and perhaps uncover other vast deposits hidden beneath similar geological layers worldwide.

As the scale of this discovery sinks in, researchers say one thing is certain: our planet still holds monumental secrets beneath its surface, waiting for those bold enough to uncover them — reshaping both science and industry in the process.