Iran’s iron ore concentrate production rises by 5%

Business Materials 23 December 2014 11:42 (UTC +04:00)

Baku, Azerbaijan, Dec. 23

By Fatih Karimov - Trend:

Iran produced 16.85 million metric tons of iron ore concentrate in the first eight months of the current Iranian fiscal year (March 21-November 21).

The figure shows a 5 percent rise year on year, the Iranian Mines & Mining Industries Development & Renovation Organization reported on Dec. 22.

Chadormaloo, Golgohar, and Markazi are the largest producers of iron ore concentrate, with 7.5 million metric tons, 5.7 million metric tons, and 1.6 million metric tons of output respectively.

Iran's iron ore exports witnessed significant fall during the recent months. Tehran exported 7.75 million metric tons of iron ore, worth $510 million during the 7-month period from March 21 to Oct. 22, which indicates a fall by 34.84 percent in terms of volume and a decline by 31.23 in terms of value respectively compared to the same period of preceding year (Iran's fiscal year starts on March 21).

The Islamic Republic exported around 20 million metric tons of iron ore in the previous Iranian fiscal year, which ended March 20.

Iran's iron ore resources stand at 5.1 billion metric tons, of which 2.8 billion metric tons are proven.