Publish Date: 16 November 2020 - 10:10

Iran's mine sector overcomes US sanctions: Official

Tehran, Nov 16, IRNA – Head of Iranian Mines and Mining Industries Development and Renovation (IMIDRO) Khodadad Gharibpour said despite the most serious sanctions imposed against Iran, mines and mining industry sectors have managed to overcome the US sanctions by increasing production.

Speaking in a conference on passive defense, Gharib Pour pointed out that IMIDRO has materialized a real surge in production.

He added that during the first six months of the current Iranian year (started March 21,, production of sponge iron, pelletizing, steel and iron ore concentrate experienced 19%, 18%,12% and 8% growth respectively.

In addition to exploration, extraction and production, IMIDRO has taken a scientific and pathology approach in its operations.

Referring to contracts signed between IMIDRO and universities and research centers with regard to passive defense, he said thanks to the measures taken work have only slightly increased.

Earlier, IMIDRO announced that Iran holds the first rank in producing sponge iron, also called direct reduced iron (DRI), with 50 percent of the whole global production in the first five months of 2020, while Iran’s sponge iron production increased by 2.7 percent in May.

One of the main reasons for the success is that IMIDRO has been cooperating with the private sector in recent years for the production of DRI.

Iran produced 5.6 million tons of sponge iron in a month, which shows a 7.6 percent growth, while India’s production was 1.5 million tons, which shows a 55 percent drop.

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