Baku, Azerbaijan, March 5
By Fatih Karimov - Trend: Two billion tons of new iron ore reserves have been found in the Sangan mine of Khorasan Razavi province, northeast of Iran, IRIB reported on March 5.
Previous explorations had indicated that the mine holds 1.2 billion tons of reserve, but new explorations show the region holds 2 billion tons of iron ore reserve, the report said.
Iranian state-run and private iron ore production companies exported 12 million tons of iron ore in the first nine months of the current Iranian calendar year, which began on March 21, IRNA reported on Jan. 8.
Iron ore exports are projected to hit 20 million tons by the end of the current year.
Iran exported 20 million tons of iron ore in the last calendar year, which ended March 20, 2013.
In September, Mohammad Habibi, an official ofIran's Iron Ore Producers and Exporters Union, predicted that the amount would be increased by 10 percent in the current calendar year.
He expressed hope that the tax problems would be solved soon so that iron ore exports are boosted.
Iranian officials say the country's domestic need for steel production units caused a sharp decline in the country's iron ore exports last year.
China, Russia and Kazakhstan are among the few trade allies still providing a lifeline to Iran's vital steel and iron ore sector after most Western suppliers and buyers have cut ties due to growing sanctions pressure, Reuters reported in May.
Edited by C.N.