Iranian iron ore exports for the current Persian year (Apr-Aug’19) witnessed at 7.86 MnT, up compared to last Persian year, (Apr-Aug’18), as per data released by Iranian Mines and Mining Industries Development and Renovation Organization (IMIDRO).
Iron ore exports in Aug’19 witnessed increase of 96% to 1.76 MnT as against Aug’18 exports. Out of the total 1.76 MnT exported, pellet contributed 42% of exports at 0.75 MnT, fines and lumps exports accounted for 30% at 0.55 MnT, and remaining 28% contributed by iron ore concentrates at 0.5 MnT. Iran iron ore concentrate production during first five months of current Persian year (Mar’19-Aug’19), witnessed 4% rise Y-o-Y to 19.725 MnT as against same period last year, as per IRNA.
SteelMint reported last month that, according to Iranian Mines & Mining Industries Development & Renovation (IMIDRO), the Iranian government planned to impose a 25% tariff on iron ore exports from 1st Oct’19. The policy of tariffs is mostly to avoid exporting raw iron ore, creating more additional value, and meet the requirements from domestic steel industries.
A total of 17 million tons of iron ore were exported from Iran in the last fiscal year (Mar 2018-19). Iran accounts for about 3% of global iron ore reserves estimated at 4.5 billion tons with over 200 ore deposits. According to the United States Geological Survey, Iran holds the world’s 10th largest iron ore reserves.
*Inputs taken from Financial Tribune
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