India's KIOCL Ltd (formerly Kudremukh Iron Ore Company Ltd) is proposing to open up an export mechanism with Iran for iron ore pellets, according to Chairman and Managing Director Malay Chatterjee, Indian Hindu Business Line news portal reported on August 4.
Talking to presspersons on the sidelines of the launch of 'Kudremukh Tree Park' project at Pilikula on the outskirts of Mangalore, Chatterjee said the Iranian Mining Minister had visited Delhi recently and this matter was discussed with the Central Government.
Iran has a good demand for iron ore pellets. Though Iran has iron ore deposits, they are not of a very high grade.
Iranians are considering how their ore can be sent to KIOCL's Mangalore plant to be converted as pellet.
Pellets manufactured from Indian ore can also be exported to Iran.
Chatterjee said Iran plans to import around 20 million tonnes of iron ore in the next five years.
He said, "We are very upbeat and our ministry is also supporting this proposal. We can give four million tonnes of pellets per annum."
KIOCL is proposing to open up export to Iran on a rupee trade mechanism, he added.