|Iran's IMIDRO seeks investors to expand iron ore production||
DUBAI (Platts) -- Iranian Mines and Mining Industries Development and Renovation, known as IMIDRO, is seeking about $1 billion of investment for two new steelmaking raw materials projects in Sangan, in the northeast of the country, IMIDRO CEO Mehdi Karbasian said.
The projects comprise an iron ore concentration plant and a pellet making plant, each with 5 million metric ton per year capacity.
Karbasian said the holding company wants to attract domestic investors, as well as Iranians living abroad and foreign companies, to help develop Iran’s mines and metals industry. An iron ore concentration plant is already under construction in partnership with Kuwaiti investors, he observed, adding that Iran plans to add around 10 million mt/y of new iron ore production capacity in the south of the country.
The Sangan iron ore deposit, the largest in Iran, is located in the northeast and is linked to iron ore reserves in neighboring Afghanistan.
About 21 percent of proven Iranian iron ore reserves are situated in this area.
However, the quality of ore at Sangan is lower than at other deposits in the country, a steel specialist said.
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