It is suspected that the fall of this meteorite was observed in 1516 by the inhabitants of the area. However, not until 1958 was this meteorite discovered. The growing Chinese industrial revolution required large quantities of iron so they tried to supply these demands with big meteorites. Fortunately the Nantan meteorite has a Nickel concentration of 6.96% which is too much to make it a profitable source of iron. The Nantan meteorite is classified as an IAB-MG since 2006.