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Iron Ore Supply Up 2%

Iron Ore Supply Up 2%Iron Ore Supply Up 2%

Iron ore supply during the first two quarters of the current Iranian year, which ended Sep. 22, grew 2 percent compared to the same period last year, the Iranian Mines and Mining Industries Development and Renovation Organization (IMIDRO) announced.

The total Iron ore production of Chadormalu Mining & Industrial Company (CMIC), Golgohar Mining and Industrial Company (GMIC), Iran Central Iron Ore Company, Jalalabad Iron Ore Complex, Sirjan Iron Ore Company, Mishdovan Iron Ore Company, Iranian Central Plateau Iron Ore Mines Complex (ICEP) and Sangan Iron Ore Complex in the first half of the year stood at 17,043,079 tons. These 8 companies produced 16,783,616 tons of iron ore within the same period last year.

The CMIC and ICEP had the biggest share of iron ore production in the market, Foolad News Reported.

Based on the report, impure iron ore production in the first six months of the current year accounted for 25,679,897 tons, which demonstrates 11 percent growth compared to the same period last year.

Also worth noting, iron ore production of private facilities totaled 14 million tons for the first six months of the current year.

Financialtribune.com