ocr: KRYVYY RIH HE IRON DEPOSIIS at Kryvyy - Rih, Ukraine, formed almost 2 billion years ago. Alternating layers of dark, iron-rich sedimentary rocks and light, silica-rich sedimentary rocks were laid down in bands. Layered deposits of this type are called banded iron formations. Similar rocks occur all over the world. The iron minerals magnetite, hematite, and siderite are mined in open pits at Kryvyy Rih. IRON MINE Ore is transported by train from this open pit mine at Krypyy Rib.