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Apr 11, 2018 . Precambrian banded iron formations record the composition of Earth's atmo- . Banded iron formations (BIFs) are chemical sedimentary ... of hematite from iron-oxide bands in the Kuruman Iron Formation, South Africa.Apr 12, 2007 · Most of the iron ore was shipped to Japan, West Germany, and Britain and earned almost US 50 million a year in export revenue. After independence, the government established a state company, the National Iron Ore Company of Angola (Emprêsa Nacional de Ferro de Angola--Ferrangol), for the exploration, mining, processing, and marketing of iron ore.