Economy, Business And Markets

Iron Ore Mining Slumps

Iron Ore Mining SlumpsIron Ore Mining Slumps

Of the 160-170 iron ore mines in Iran, only 20 are currently operational, a member of Tehran Chamber of Commerce, Industries, Mines and Agriculture said. This indicates an 80% decline in the number of active mines compared with 2013, the sector’s boom period. “The number of shuttered mines is indicative of the crisis facing the sector,” Bahador Ahramian, who is also the managing director of Yazd Rolling Mill company, was quoted by Fooladnews as saying. Ahramian noted that most of Iran’s operational mines are state-owned, which enjoy sustained demand for raw material from the government. “This is while private mines are left to their own devices with no support and have to cope with the risks of investing in the sector,” he said. Caption: Most of Iran’s operational mines are state-owned.

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