Pakistan Steel Seeks To Import Iron Ore From Iran

Islamabad, Dec 26, IRNA – Pakistani news daily on Tuesday reported that the chief executive officer of Pakistan Steel Mills has left for a four-day visit to Iran to discuss and secure supplies of iron ore from a cheap and quick source at a time when the PS desperately needs raw material to give a boost to production. Daily ‘Express Tribune’ quoting the spokesperson of the PS said that the main purpose of the visit is to seek possibilities of securing a continuous supply for the steel mill. The mill is experiencing difficulties in importing iron ore from Australia, Canada and Brazil as shipments take 50 to 60 days with a high freight compared to a 10-12-day cost-effective shipment from the neighboring country. The spokesperson said the PS delegation would meet representatives of five Iranian companies and would also discuss possibility of barter trade, under which PS would supply metallurgical coke in exchange for Iranian ore./end