India’s state-owned KIOCL will import one million metric tons of iron ore from Gol Gohar Mining Company of Iran, media reports say. The first shipment is expected next month by the Mangalore-based company which will make pellets and export them to Iran.

“We are in the final stages of talks with Gol Gohar Mining Company of Iran for a tie-up to import about 1 MT of iron ore,” PTI quoted KIOCL Chairman and Managing Director Malay Chatterjee as saying.

“It is expected to be formalized in a month, post which the first shipment can take another week to reach Mangalore port," he added. 

Gol Gohar will supply iron ore from its mine in the Kerman province. According to PTI, KIOCL expects to sell up to 2 million metric tons of iron ore pellets to Iran. Chatterjee said the company has already supplied 50,000 metric tons of high grade iron ore pellets to Iran and expects to sell 1-2 million tons more.

KIOCL has also sold iron ore pellets to the Mobarakeh Steel Company in the Isfahan province of Iran, he added. 

Iran reportedly produces some 22 million metric tons of iron ore pellets a year, with Mobarakeh accounting for 7.2 million metric tons of the output as the country’s as well as the Middle East’s largest steel mill.

Chatterjee said his company wants to “capitalize” on the 8-9 million metric ton shortfall which Iran has to cover through imports.

India has stepped trade with Iran following the conclusion of international nuclear talks with the Islamic Republic last month.

New Delhi reportedly plans to go ahead with a plan to build a $3 billion aluminum smelter complex in Iran. It includes construction of a facility to produce 500,000 metric tons of aluminum per year and a 1,000-megawatt captive power plant.

Source:presstv.ir