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NewsKarbasian Announced: Iran Steel Exports Hit 6 MT

Karbasian Announced: Iran Steel Exports Hit 6 MT

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According to the report of public relations of IMIDRO, during the current Iranian year (started march20, 2017) mineral products prices have an increasing trend. So, small mines should be aggregated and formed a consortium in order to reduce costs, Mehdi Karbasian said.

“We attracted 2 billion euros investment in 7 provincial steel projects. At the beginning of the 11th government there were many problems in country’s mining industry but we tried to solve most of them”, Deputy Mine, Industry and Trade Minister expressed.

He noted the foreign investment situation in mining sector and said: South Aluminum Project attracted one billion dollars finance. Also, Mehdi abad consortium convinced one of the credible companies to invest in Iran.

Karbasian declared that during the last Iranian year 400 million tonnes of iron ore, 350 million tonnes of coal and 50 tons of gold were added to the country’s mineral reserves.

The first step for attraction of foreign investment is interaction and communication with global banking and insurance systems. In this case, after president Rouhani’s visit to Italy and France in last Iranian calendar year(ended 20 March2017), we established economic relations and transfer money with insurance companies such as SACE, Cofas, Hermes in Germany and South Korea. Then, we entered the cycle of obtaining loans, investment and licenses, he said.

Source: IMIDRO