Azerbaijan, Baku, July 26/ Trend, N. Umid/
Iranian Chadormalu Mining and Industrial Company has produced some 2.5 million tons of iron ore concentrate during first quarter of current solar year(started on March 21) which indicates a 17.5 percent increase, compared to same period of the last solar year, ISNA news agency reported.
According to the report, total production of iron ore in Iran, including iron ore concentrate has reached some 4 million tons during the first three months of current solar year, which has increased by 14 percent compared to the same period of the last solar year.
Chadormalu shared approximately 47.8 percent of Iran's total iron ore concentrate production during last solar year, the report said.
Chadormalu mine's iron ore reserves was 400 million tons, including 320 million tons of extractable reserves. For the being time, remained reserves of the mine reaches 180 million tons, the report added.
Iran exported 20 million tons of iron ore in the last calendar year.
Mohammad Habibi, an official from Iran's Iron Ore Producers and Exporters Union, predicted that the amount would be increased by 10 percent in the current solar year.
Iranian officials say the country's domestic need for steel production units has 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.
The country does not have enough capacity to use much more of its ore to produce steel, but exporting it provides much-needed income now its oil revenues are down by about 50 percent due to sanctions over its disputed nuclear program.