The three main types of iron ore deposits in Australia are bedded, massive and residual. Some character- istics of iron ore, important in its process behaviour, are related to its mineralogy which is a result of its geological history. World iron ore resources are extremely large but there are problems in quantifying re- serves, defined as that part of re- sources from which a useable commodity can be extracted economically. The relationship between the discovery and exploitation of iron ore resources and the process of industrialization is examined in historical and present day contexts.