Ore genesis with igneous rocks. The world's major copper deposits are formed within the granitic porphyry copper style. Copper is enriched by processes during crystallisation of the granite and forms as chalcopyrite — a sulfide mineral, which is carried up with the granite. Sometimes granites erupt to surface as volcanoes, and copper mineralisation forms during this phase when the granite and volcanic rocks cool via hydrothermal circulation. Sedimentary copper forms within ocean basins in sedimentary rocks. Generally this forms by brine from deeply buried sediments discharging into the deep sea, and precipitating copper and often lead and zinc sulfides directly onto the
Iron ore largest steel producing country. It is also the largest importer, buying 52% of the seaborne trade in iron ore in 2004. China is followed by Japan and Korea, which consume a significant amount of raw iron ore and metallurgical coal. In 2006, China produced 588 million tons of iron ore, with an annual growth of 38%. Over the last 40 years, iron ore prices have been decided in closed-door negotiations between the small handful of miners and steelmakers which dominate both spot and contract markets. Traditionally, the first deal reached between these two groups sets a "benchmark" to be followed