The Carajs iron ore deposits contain approximately 17.5 billion tons of ore with >64 per cent Fe and occur in the eastern part of the Amazonas Craton. They are hosted by jaspilitic banded iron-formation (BIF) of the Carajs Formation which, together with metavolcanic rocks, comprise the ~2.75Ga Gro Par Group of the Itacainas Supergroup in the ~1000 km long, E-W trending Carajs Synclinorium. The Carajas Formation comprises discontinuous layers and lenses of partly dolomitised BIF (17 - 43 per cent Fe and 35 - 61 per cent SiO2) and lenses of high-grade iron ore, cut by mafic sills and dykes. The high-grade iron ores occur as large tabular bodies of friable (soft) hematite with smaller lenses of hard (compact) hematite. The hard hematite ores typically occur at the contact with the underlying volcanic rocks and are surrounded by an aureole of hydrothermal carbonate alteration. BIF that has been overprinted by dolomite and magnetite crystallisation has recently been discovered at depth in the N4E Mine. With increasing amounts of carbonate, the original lamination (microbanding) and other fine primary structures in the BIF have been progressively obliterated resulting in alternating carbonate and iron oxide mesobands. The friable hematite ore that is characteristic of the Carajs deposits results from ongoing weathering and leaching of the carbonates from this type of altered BIF. The hard hematite ores probably result from more extensive early oxidation. The association of both carbonate-altered and jaspilitic BIF with the N4 Mine is similar to that observed at the Mount Tom Price deposit in Western Australia, where carbonate-altered BIF occurs below massive hematite ore with a jaspilitic halo developed above the orebody. This indicates that as at Mount Tom Price, hydrothermal carbonate alteration and associated loss of silica from BIF may be an important step in the formation of these giant hematite deposits.