Iran’s Iron Ore Reserves: 5 Billion Tons Estimated, 2.3 Billion Tons Proven 

Iran’s proven iron ore reserves have currently reached 2.3 billion tons, while its total estimated reserves (proven plus probable) stand at 5 billion tons, according to Mehrdad Akbarian, the head of Iran Stone Association.
Iron ore reserves feed Iran’s burgeoning steel industry, whose production, supported by cheap energy, is on the rise, but the ever-increasing steel production will obviously deplete its reserves, according to a report published by the Persian daily Jahan-e Sanat last year.
Experts blame the output level and difficult exploitation and processing of the mineral substance for this matter. Some of the country’s open-pit iron ore reserves are already running out. 
A total of 160 million tons of iron ore are needed to achieve the goal of the 20-Year Vision Plan (2005-25) of reaching 55 million tons of annual steel production. It is said that the current iron ore reserves will only meet the needs of the steel industry for the next 14 years.