Answer:
167.86 tonnes
Explanation:.
I am assuming the iron oxide is Fe2O3 (Haematite) which is the most common form of iron oxide.
From the atomic masses:
Maximum Mass of iron = 240 * 2*55.845 / (2*55.845 + 3*15.999))
= 240 * 111.69 / (159.687)
= 167.86 tonnes
