Iran's processed iron ore output up by 16.3 percent

Business Materials 25 December 2012 13:59 (UTC +04:00)

Azerbaijan, Baku, Dec.25/ Trend F.Milad

Some 24.16 million tons of processed iron ore was produced in the first months of current Iranian Calendar year, which began March 20.

The amount shows 16.3 percent increase in comparison to the same period previous year, the Mehr news Agency reported.

Iranian Mines & Mining Industries Development & Renovation Organization (IMIDRO) announced on Sunday that four steel projects will come on stream in the first half of the next Iranian calendar year, to start March 20,2013.

Once the projects come on stream some 4 million tons would be added to the country's sponge iron output capacity.

The projects will be completed at the cost of 458 million euros and 10.16 trillion rials (some $828.7 based on the official rate of dollar).

Iran exported some 775,361 tons of iron ore in the first eight months of current Iranian calendar year.

The amount shows 27 percent decrease compared to the same period previous year.

Iran's domestic need for steel production units caused such a sharp decline in the country's iron ore exports.

Head of the Iran Iron Sellers Union Mohammad Azad said on November 27 that last year some 23 million tons of steel and iron ore products were used domestically.

The deputy industry minister Reza Fatemi-Amin said on September 9 that Iran will no longer need to import steel products next year once the underway steel production projects come on stream.

Fatemi-Amin added that some 7 million tons of crude steel is imported annually.

On September 4, Industry, Mine, and Trade Minister Mehdi Ghazanfari said that a number of steel projects, with the total output of 12 million tons are underway.

Iran will become one of the world's main steel exporters by March 2016, Ghazanfari said in May 2011.