Economy, Business And Markets

Iron Ore Production Up

Iron Ore Production UpIron Ore Production Up

Mining companies produced more than 31 million metric tons of iron ore during the 11 months of the outgoing Iranian year (to end March 20), which shows close to 1% growth compared to the same period last year, Iranian Mines and Mining Industries Development and Renovation Organization (IMIDRO)’s public relations office reported.

Major miners, including ICEP, Chadormalu, Golgohar, Sangan, Jalalabad and Sirjan produced 2.94 million tons of iron ore during the last month of the period. Total extraction during the 11-month period is reported to amount to 47.04 million tons, up 12% in comparison with last year.  

Out of the 5.1 billion tons of iron ore reserves in Iran, some 2.8 billion tons are proven while the remaining are potential reserves. Golgohar iron ore mine in the southeastern Kerman Province is home to the largest reserves with 1 billion tons, followed by Sangan mine in Khorasan Razavi Province with 850 million tons and Chadormalu in the central Yazd Province with 295 million tons.

Industry officials have initiated extensive programs to increase the iron ore production in order to achieve the objectives of the 2025 Vision Plan, which requires the country to produce 55 million tons of crude steel every year. IMIDRO has recently said it discovered 200 million tons of new iron ore deposits in the Sangan region.