(MENAFN) Bahram Sobhani, the chairman of the Iranian Steel Producers Association (ISPA), disclosed that Iran experienced a remarkable surge in the export of sponge iron, recording a staggering 109.9 percent increase during the first ten months of the current Iranian calendar year, spanning from March 21, 2023, to January 20, 2024, compared to the corresponding period in the previous year.
Sponge iron, also known as direct reduced iron (DRI), is derived from the direct reduction of iron ore into iron through processes involving reducing gas or elemental carbon, often sourced from natural gas or coal. The versatility of this production method allows for the utilization of various ores.
Despite grappling with severe economic sanctions imposed by the United States, Iran's mining sector has demonstrated notable resilience and progress, overcoming the challenges posed by the sanctions. While many industrial and economic sectors have been adversely affected, the mining sector has shown significant growth, with sponge iron production serving as a prominent example of this resilience.
The Iranian Mines and Mining Industries Development and Renovation Organization (IMIDRO), the nation's largest metals and mining holding, attributes the spike in sponge iron production to the establishment of new sponge iron plants. IMIDRO emphasized that in recent years, the organization has pursued a new strategy, fostering collaboration with the private sector and initiating multiple projects aimed at increasing sponge iron production.
Furthermore, in July 2022, IMIDRO announced that Iran's Mines and Metals Company (MME) successfully launched China's inaugural gas-based sponge iron production unit, employing the innovative Persian Direct Reduction (PERED) technology. This milestone underscores Iran's commitment to advancing its mining sector and enhancing its position in the global market for sponge iron.
MENAFN11022024000045015839ID1107837913
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.