I'm surprised that mining iron in such conditions can be profitable. Isn't it incredibly abundant (~5% of the earth's crust)?
FWIW, the Kiruna orebody is the biggest known continuous body of iron ore in the world, 4 km wide, 80 meters thick on average, and of unknown length. See https://www.lkab.com/en/Future/Urban-Transformations/Why/Wha... .
Or quoting from http://www.mining-technology.com/projects/kiruna/ :
> Since mining began at the site over 100 years ago, Luossavaara-Kiirunavaara AB (LKAB) has produced over 950Mt of ore, yet only one third of the original ore body has been extracted.
If so, how do they store the energy? Do the trains carry massive batteries, or do they draw power from (and contribute back to) the grid?
It's pumped into the grid.