Iron Ore Extraction Exceeds 10m Tons

Tehran, Sept 2, IRNA - Latest figures show Iran extracted over 10.7 million tons of iron ore in the four months ending July 22. The data released by Mines, Industries and Trade Ministry on Monday indicate that the country exported 5.2 million tons of iron ore worth $350 million during the same period. China is the top importer of iron ore from Iran. Iran was the fourth-largest supplier of iron ore to China last year, selling 22.4 million tons worth $2.4 billion. Holding the biggest iron ore reserves in the Middle East, Iran was the 10th largest iron ore producer in the world in 2013, extracting 38 million tons of the strategic mineral. Iron ore has been among the hardest-hit industrial commodities, with prices falling more than a quarter this year./end