The recent discovery of the first ever iron ore mine in Dinajpur is great news for the country’s economy. The second phase of drilling is underway to assess the stretch of the reserves to determine economic viability of the extraction.
The iron mine discovery is a big blessing for our country. After commercial viability of the extraction has been determined, iron ore will start to be extracted commercially by our country. Needless to say, this will be a huge boost for our economy.
Iron is one of the most valuable commodities in the world, second only to oil. Currently, there are no iron mines in the country so our only source of iron is from importing the metal from other countries. However, after commercial extraction begins we will no longer need to import iron and thus we will be saving a huge amount of foreign currency. We can also export the surplus of the iron extracted to earn foreign currency.
There should be no delay in the
extraction of iron once commercial
viability has been established
This will also go a long way to revitalize the country’s iron and steel industries. The percentage of iron in the mine is 65 while that in Canada, China, Brazil Sweden and Australia is below 50. The iron and steel industries of our country will be getting high quality iron while paying less than they did before. According to a survey conducted by the Geological Survey of Bangladesh (GSB) the thickness of iron that is found here might stretch over an area of around five square kilometers, and if it so, the commercial extraction of iron is very much possible.
There have also been small amounts copper, nickel and chromium as well as limestone found in the mine. Whether or not there is any gold in the mine is yet to be discovered.
The government must seize this golden opportunity to advance Bangladesh’s position in the global economy. There should be no delay in the extraction of iron once commercial viability has been established. The government must also take necessary measures to acquire all the necessary drilling, mining and extracting equipment of world class.
