EghtesadOnline: Two iron ore processing plants were inaugurated by a host of government and industry officials in Khorasan Razavi’s Sangan Mineral Zone on Thursday.
The first project, a 5-million-ton per year pellet-making plant constructed by Opal Parsian Sangan Mineral and Industrial Company, was launched by First Vice President Esh’aq Jahangiri, Minister of Industries, Mining and Trade Mohammad Shariatmadari and the head of Iranian Mines and Mining Industries Development and Renovation Organization, Mehdi Karbasian.
Over 11 trillion rials ($261.9 million) were invested into the pellet plant in a partnership between Opal Parsian and IMIDRO, Iran’s largest mining holding.
National Industries and Mining Development Company was the investor in the second project, a 5-million-ton per year iron ore concentrate plant. It was established through the investment of 8 trillion rials ($190.4 million), according to Financial Tribune.
Known as “Iran’s Mineral Heaven” and located in Khorasan Razavi Province, Sangan is home to over 1.2 billion tons of estimated iron ore reserves. It is expected to grow even more through further explorations.
According to the IMIDRO chief, Sangan zone’s mines meet over 23% of Iranian steelmakers’ raw material demand.
Both the newly-launched plants are located in Sangan Iron Ore Complex’s premises.
According to IMIDRO's latest data, Iranian mines produced 24.8 million tons of iron ore concentrate and 20.8 million tons of pellets during the first eight months of the current fiscal year (March 21-Nov. 21).