Iran Iron Ore Concentrate Output Exceeds 27 MnT in Seven Months of Current Persian Year

Iran iron ore concentrate production during the first seven months of the current Persian year (Apr'19-Oct'19), witnessed 4% rise Y-o-Y to over 27 MnT as against same period last year, as per Iranian Mines and Mining Industries Development and Renovation Organization (IMIDRO).

Iran's exports of iron ore concentrate for the past Iranian year stood at 5.552 MnT, up almost twice on yearly basis. Amid, rising exports from the country, Iran has levied a 25-percent duty on the exports of iron ore since September 23.

The policy of tariffs is mostly to avoid exporting raw iron ore, creating more additional value, and meet the requirements from domestic steel industries. The new duty is encouraging production of more processed minerals such as pellet and concentrate instead of selling the raw minerals.

*Inputs taken from Tehran Times