But investigations by a team from the Geological Survey Department have established that the mineral identified at the site is primarily iron ore, specifically magnetite.
Magnetite is a very common iron oxide (Fe3O4) mineral that is found in igneous, metamorphic and sedimentary rocks.
It is the most commonly mined ore of iron, according to geology.com. Minister of Mines and Minerals Development Paul Kabuswe said after careful assessment, the magnetite deposit has been deemed non-economically viable for exploitation by individuals, cooperatives or small-scale operators.
-Zambia Daily Mail