Iran exports 6M tons of steel ingots, products

Economy Materials 11 December 2016 13:22 (UTC +04:00)

Baku, Azerbaijan, Dec. 11

By Khalid Kazimov – Trend:

Iran has exported about six million tons of steel ingots and products over the first eight months of the current fiscal year (started March 20), an Iranian minister said.

Iranian Minister of Industry, Mines and Trade Mohammadreza Nematzadeh has forecasted that the country’s exports of steel ingot would hit nine million tons by the end of the current year, IRNA news agency reported.

According to the minister, Iran currently produces 28 million tons of iron ore concentrate per year.

He added that the country’s capacity for producing iron ore concentrate has increased by 16 million tons over the past three years.

Nematzadeh elaborating on plans to develop the country’s mining sector added that the capacity for producing iron ore concentrate is projected to increase by four million tons over the next year.

He further forecasted that the country’s output of crude steel would reach 55 million tons by 2025.

Iran’s annual mining capacity currently stands at 400 million tons as there are about 5,400 operating mines in the country.