What is Iron Ore? Iron ores are rocks and minerals from which metallic iron can be economically extracted. The ores are usually rich in iron oxides and vary in colour from dark grey, bright yellow, or deep purple to rusty red. Types of Iron Ores 1). Hematite: Hematite, also spelt as haematite, is the mineral form of iron(III) oxide (Fe2O3), one of several iron oxides. It is the oldest known iron oxide mineral and is widespread in rocks and soils. 2). Magnetite: Magnetite is a rock mineral and one of the main iron ores, with the chemical formula Fe3O4. It is one of the oxides of iron, and is ferrimagnetic; it is attracted to a magnet and can be magnetized to become a permanent magnet itself.

Our trade process spreads across CIF, FOB, TTO, and TTT, depending on the buyer’s preference. Here’s what they entail: 1). Cost Insurance and Freight (CIF): Here, the seller will handle everything from loading the vessel, paying for insurance, and sending the product to wherever the buyer wants it delivered. 2). Freight On Board (FOB): Here, the seller pays for the transportation of the goods to the port of shipment, plus loading costs, while the buyer pays the cost of marine freight transport, insurance, unloading, and transportation from the originating port to the final destination. 3). Tanker Take Over (TTO): Here, the buyer will take over the vessel, offload the product at their destination, and return it. 4). Tanker To Tanker (TTT): Here, the buyer uses their own vessel, long sides with the seller’s vessel, and then the cargo is transshipped when the transaction is fully settled.