400 Million Tons New Iron Ore Reserves in Iran
Exploration of 400 million tons new proven reserves of iron ore in Iran, Chairman of the board of IMIDRO announced.
Mehdi Karbasian during inaugural ceremony of the 18th Iran International Steel Exibition in Kish Island noted the achievements in exploration sector and expressed that 200 million tons of these reserves belongs to central plateau and the other 200 million tons are in Sangan zone in the northeast of Iran.
So far, Iran has approximately 3 billion tones proven reserves of iron ore and is expected to be increased 50 percent by the end of the exploration projects which were started two years ago, he added.
Implementation of exploration projects is one of the postponed plans of the past years. While we should have adequate iron ore reserves to achieve goals of vision 2025 in order to produce 55 million tons steel capacity, Karbasian said.
Emerging Market
He noted the situation of Iran in the world and explained that recently Iran has known as an emerging market in the world which has attracted the attention of foreign investors. So, we should use this opportunity for economic growth, increasing per capita income, expansion of employment and promoting industries especially steel industry.
Foreign investors such as European and Japanese companies willing to invest in Iran’s steel chain. Recently a Japanese company declared high interest to invest in Iran, Deputy of Industry, Mine and Trade Minister said.
source: imidro
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