Bornite Bornite Bornite, also known as peacock ore, is a sulfide mineral with chemical composition CuFeS that crystallizes in the orthorhombic system (pseudo-cubic). Bornite has a brown to copper-red color on fresh surfaces that tarnishes to various iridescent shades of blue to purple in places. Its striking iridescence gives it the nickname "peacock copper" or "peacock ore". Bornite is an important copper ore mineral and occurs widely in porphyry copper deposits along with the more common chalcopyrite. Chalcopyrite and bornite are both typically replaced by chalcocite and covellite in the supergene enrichment zone of copper deposits. Bornite is also found as
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