TEHRAN – Iran’s iron ore output is going to reach 101 million tons by the end of the current Iranian calendar year (March 19), registering over a 17-percent rise compared to the previous year, IRNA reported.

Based on the data released by the Iranian Mines and Mining Industries Development and Renovation Organization (IMIDRO), in the first nine months of the current Iranian calendar year (March 21-December 21, 2019) Iranian mines produced 49.69 million tons of the mentioned mineral.

The country’s iron ore output stood at 86 million tons in the previous Iranian calendar year 1397 (ended on March 20, 2019) while the figure was reported to be 85 million tons in its preceding year of 1396.

Based on the country’s Sixth Five-year National Development Plan (2016-2021), Iran’s iron ore output is going to reach 105 million tons in the upcoming calendar year (March 2020-2021).

IMIDRO has also estimated that Iron ore production in Iran is going to reach 107 million tons in the Iranian calendar year of 1400 (March 2021-March 2022).

Iran also produced 39.341 million tons of iron ore concentrate during the first 10 months of the current Iranian calendar year (March 21, 2019 – January 20, 2020), registering a three-percent rise compared to the same period last year.

In a bid to prevent the exports of unprocessed minerals, creating more value-added and meeting the requirements of domestic producers for the raw materials, Iran has levied a 25-percent duty on the exports of raw minerals (especially iron ore) since September 23, 2019.

The new duty is aimed at encouraging the production of more processed minerals such as pellets and concentrate instead of selling the raw minerals.

EF/MA