TEHRAN- The value of Iran’s sponge iron export rose 79 percent during the first half of the current Iranian calendar year (March 21-September 22), as compared to the same period of time in the past year, according to the Iranian Steel Producers Association (ISPA).

As ISPA reported, the country’s sponge iron export also indicates 89 percent rise in terms of weight during the six-month period, as compared to the same time span in the previous year.

Iran exported 1.13 million tons of sponge iron worth $262 million during the first half of the present year, while the figure was 596,000 tons valued at $146 million tons in the first half of the previous year.

Direct reduced iron (DRI), also called sponge iron, is produced from the direct reduction of iron ore (in the form of lumps, pellets, or fines) into iron by reducing gas or elemental carbon produced from natural gas or coal. Many ores are suitable for direct reduction.

While Iran is fighting the U.S. severe sanctions on its economy, and the country’s different industrial and economic sectors have been affected by the limitations and difficulties caused by the sanctions condition, the country’s mining sector is moving forward noticeably, overcoming such barriers.

Among the mining sector’s different products, sponge iron is an outstanding example, as the production of this item is rising more and more in the country.

Iranian Mines and Mining Industries Development and Renovation Organization (IMIDRO), Iran’s largest metals and mining holding, has stated that one of the most important reasons for the increase in sponge iron production in Iran is the establishment of new sponge iron plants, adding that in recent years, with its new strategy and with the participation of the private sector, the organization has been able to launch several projects to produce sponge iron.

MA