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Iran plans to stop iron ore exports from March 2016

Iran plans to stop iron ore exports from March 2016

TEHRAN: Iran plans to stop crude iron ore exports starting from March 2016, an official says.

“Starting from March 2016 concentrates and pellets will be produced from iron ore and we will have no more iron ore for export,” Mehdi Karbasiyan, deputy industries, mines and trade minister told ISNA August 19.

According to him, to this end the implementation of the projects to produce concentrates and pellets in the country have been intensified, the report says.

He described law prices for iron ore in the world markets as main reason for such policies, according to the report.

During the first quarter of the current year Iran exported 3.419 million tons of iron ore which is 22 percent less than the same period of the previous year, data released by the country’s Custom Organization suggests.