August 05,
The Iranian parliament is going to approve a new law to stop all exports of Iron ore.
The new act will halt export of the raw material at least during the country’s fifth development programme that will last up to March 2014.
Sharif Hoseini, a member of the parliament and of the commission of mines and industries said that at the present time, Iran is an exporter of Iron ore and an importer of Pellet to supply to steel producers, and this is not acceptable. “We have to upgrade the country’s technology to produce higher value material instead of Iron ore, and there are some negotiations with different countries to improve our technology.”
The Iranian mines and metals state holding company Imidro has already halted export of concentrated Iron ore from its affiliated companies, but the new law will impose more restrictions on iron ore producers.
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