Economy, Business And Markets
0

Zinc, Lead Ore Extraction Rising

Zinc, Lead Ore Extraction RisingZinc, Lead Ore Extraction Rising

Anguran mine in Zanjan province extracted nearly 17% more zinc and lead in the first ten months of the current Iranian year (to end March 20) than the similar period last year, based on a report by the Iranian Mines and Mining Industries Development and Renovation Organization (IMIDRO).

Anguran mining company, Iran’s major state-owned zinc and lead company, extracted nearly 818,000 metric tons of zinc and lead ores during the ten-month period (ended January 20) compared with 704,000 tons extracted during the same period last year, IRNA reported.

According to the report, the mine dispatched 697,054 tons of minerals to lead and zinc processing companies during this period, indicating a 4% growth compared with the previous year.

Anguran mine, along with Mehdiabad mine in Yazd province and Nakhlak in Isfahan province –all of which are owned by subsidiaries of IMIDRO – together extracted 899,682 tons of lead and zinc ore in the previous Iranian year (March 21, 2103- March 20, 2014).

Iran seeks to increase its lead and zinc production through implementation of IMIDRO’s plans. After the current administration led by President Hassan Rouhani took office in 2013, it has tried to boost investments in the mining sector. Officials recently announced an agreement between the Australian UCL company to invest $1 billion in Mehdiabad zinc mine as part of a joint venture with Iran Zinc Mines Development Company. The investment is expected to yield 200,000 tons of zinc ingots production per year.

Zinc is the world’s fourth most commonly used metal after iron, aluminum, and copper with an annual global production of about 12 million tons. About 70% of the world’s zinc originates from mining, while the remaining 30% comes from recycling.

Financialtribune.com