Business And Markets

12m Tons of Iron Ore Concentrate Produced

12m Tons of Iron Ore  Concentrate Produced
12m Tons of Iron Ore  Concentrate Produced

Five major companies manufactured about 12 million tons of iron ore concentrate in the six months ending Sep. 22, Iranian Mines and Mining Industries Development and Renovation (IMIDRO) announced, Foolad News reported.

Chadormalu, Golgohar, Markazi, Middle East and Sangan mining and industrial companies produced 6,144,393 tons, 4,715,836 tons, 2,369,247 tons, 1,182,902 tons and 1,800,641 tons of concentrates respectively.

The report also said that the companies supplied 7,666,178 tons of concentrates to domestic steel manufacturing companies during this period.

Meanwhile, eight granulated iron ore companies produced 5,235,998 tons of products during the same period.

Last year, Iran produced 49 million tons of iron ore, some 24 million tons of which were exported for less than $2 billion.

Recently, the Iran Mercantile Excahnge announced that Iran Central Iron Ore Company and Iranian Central Plateau Iron Ore Mining Complex were listed on the export trading floor at the IME.

Following the ICIOC commitments, close to 70 percent of the company’s total annual production, equivalent to 1,260 million tons of iron ore will be offered on the floor. Considering the approval, the frequency of offering at the IME should be at least once in a month.

Holding the biggest iron ore reserves in the Middle East, Iran was the 10th largest iron ore producer in the world in 2013, extracting 38 million tons of the strategic mineral.