Direct-shipping iron-ore (DSO) deposits (typically composed of hematite) are currently exploited on all continents except Antarctica, with the largest intensity in South America, Australia and Asia. Most large hematite iron-ore deposits are sourced from altered banded iron formations and rarely igneous accumulations.
The iron and steel industry is one of the most important industries in India. During 2014 through 2015, India was the third largest producer of raw steel and the largest producer of sponge iron in the world. The industry produced 91.46 million tons of total finished steel and 9.7 million tons of pig iron.