New steel projects limit sale of crude iron ore

Mehdi Karbasian said forecasts show that from 1394 up to 1395 (2015-2016) constant reduction of iron ore export would be witnessed as projects of steel industry such as concentrated and pelletizing, sponge iron and steel manufacture will enter the production circuit.

He stressed that only within the next one year about 4 million tons will be added to the concentrated production capacity in the country which needs over 5 million tons of iron ore.

According to Karbasian these projects are planned with an aim of using domestic production capability for feeding steel industry.

Karbasian pointed to the fact that for implementation and completion of all the projects special funds are needed, adding that IMIDRO at present is facing the problem of receiving 70% of the resources obtained though selling its share by the Privatization Company which was approved by the Majlis in the past year while the law has clearly emphasized its payment to IMIDRO.