EghtesadOnline: Iran’s largest steelmaker, Mobarakeh Steel Company, has started the test run of its 5-million-ton per year iron ore pelletizing plant in Sangan mineral zone in northeastern Iran, Iranian Mines and Mining Industries Development and Renovation Organization reported.
“MSC has invested about 11.5 trillion rials ($306 million) in the project,” Bahram Sobhani, the company’s manager, said.
Together with its subsidiaries, MSC is the largest flat steel producer in the Middle East and North Africa region and Iran’s largest steelmaker, accounting for 1% of Iran’s GDP.
Iranian companies produced 25.8 million tons of iron ore pellets in the last Iranian year (ended March 20, 2017), but the capacity is expected to increase to about 42 million tons/year by March 2018, according to Financial Tribune.
Known as “Iran’s Mineral Heaven”, Sangan Mineral Zone is home to over 1.2 billion tons of iron ore reserves.