Potential of Iranian steel industry equal to 2.5m barrels of oil
(Minews) - Vice Chairman of Iron Ore Association Bahram Shakuri said the prospects of steel production in the country is estimated at 55 million tons which will obtain a revenue equal to 2.5 million barrels of oil if the value chain is completed.
Pointing to the global drop in metal prices and lack of enthusiasm of the investors to enter into the mining sector, he anticipated that the mining sector will make no such growth in the coming year.
He said the price of certain metals such as copper and iron ore has dropped in the world market and financial resources of the governments and the banks have been limited while they have joined hands not to portray a positive image with regard to the mining sector.
According to Shakuri, making predictions about growth of the mining sector in the next Iranian calendar year (2015-2016) is a hard job and under the present circumstances a bright future is out of reach in this sector.
“But, if the outlooks towards the mining sector change and Iran’s agreements with political groups of the world come to conclusion it can be hoped to see the mining sector of the country with a positive growth.”
He said both the government and the Majlis should proceed towards boost in business and the mining sector should substitute oil while in the case of projects such as steel the value chain should be completed.
Publish date : Tuesday 3 March 2015 20:06
Story Code: 22255
