Economy, Business And Markets

ICIOC Working at Full Capacity

ICIOC Working at Full CapacityICIOC Working at Full Capacity

Iran Central Iron Ore Company (ICIOC) is now producing its planned target of 8 million metric tons of iron ore per annum, says the managing director of the company. Mohammad-Javad Askari told IRNA that out of the extracted iron ore during the past year, as much as 80% has been sold. However, he added, the recent decrease in exporting iron ore, especially to China, has made the company cut its unnecessary expenses. He expressed hope that the ICIOC could witness a remarkable increase in revenues if global prices return to last year’s rates. The ICIOC has been the biggest producer of iron ore pellets in Iran during the past four decades.