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Bangladesh’s first magnetite (iron ore) exploration, at Dinajpur, Hakimpur upazila, Isabpur, has brought new hope to the country’s economy.
The Bangladesh geological survey made the startling announcement on Tuesday morning, two months after drilling the well and carrying out extensive surveys.
At 11:30 a.m. Tuesday, Mohammad Masum, deputy director of the geological survey, said a 400-foot-thick layer of 6-10 square kilometers of iron was found 1,750 feet below the surface of the area.
He said the mine had a grade of 65 per cent, compared with less than 50 per cent in Canada, China, Brazil, Sweden and Australia.
The official added that gold, copper, nickel and chromium were also found in the mine, and that limestone had been found at a depth of 1,150 feet, and that it was the first time iron ore had been found in Bangladesh.
The discovery of iron ore opened up new economic prospects for the country.
People familiar with the matter said iron ore mining was economically viable and would create many jobs.
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