News List
IMIDRO Plans to Attract Investment for Development in 10 Mines
IMIDRO plans to attract private sector investment by the end of the current Iranian Calendar year (ended March2024) in order to develop 10 mines, IMIDRO’s mines manager announced. According to the report of public relations of IMIDRO, IMIDRO and IMPASCO plans to attract private sector investors for development of iron ore, coal, zinc &…
Due to China fundamentals, iron ore prices increase
The spot price of iron ore has climbed to a five-month high amid improving sentiment and some supportive fundamentals in China, the world’s top buyer of the steel raw material. However, there are also some factors that may limit the extent of the rally in coming weeks, such as the likely official moves to…
China,s revision of mine safety law after deadly accidents
China’s mine safety administration is drafting revisions to the country’s mining safety law, an official said on Monday, after two coal mine accidents killed more than 60 people this year. The law, implemented in 1993 and revised in 2009, has some “prominent problems”, Xue Jianguang, a director at the State Administration of Mine Safety,…
Decline in world oil reserves, warning !
EIA forecasts that global oil reserves will fall in the fourth quarter of this year regarding a three-month extension of voluntary cuts in Saudi production. The U.S. Energy Information Administration said in its monthly report that after a voluntary cut in Saudi Arabia’s production by 1 million barrels per day which was supposed to…
IMIDRO Held The First Vital and Strategic Minerals Panel
The first specialized panel of vital and strategic minerals was held by IMIDRO with the attendance of experts from the headquarters, companies, complexes and projects of Iran’s Mines and Mining Industries Development and Renovation Organization. According to the report of public relations of IMIDRO, during the panel, the IMIDRO’s vital and strategic minerals roadmap…
Iron ore hits near 6-mth high in singapore
Iron ore futures rose for a fourth straight session on Thursday, helped by low inventories and pre-holiday restocking, although concerns about lingering steel market weakness in the peak construction season capped gains. The most-traded January iron ore on China’s Dalian Commodity Exchange (DCE) ended daytime trading 0.82% higher to 863.5 yuan ($118.68) a metric…
Production in Sangan will be increased
The chairman of the board of IMIDRO stated: despite the existing problems and restrictions such as power outages and possibiliy of gas shortages in winter, production in Sangan complex compared to previous year will be increased. According to Public Relations of IMIDRO, Mohammad Reza Movasaghinia, while traveling to Sangan to visit projects, and monitoring…
High-grade iron ore fines lose steam as 65%-62% price spread narrows to 3-year lows
The price spread between Brazilian high iron content Iron Ore Carajas (IOCJ) and seaborne medium brand fines has been bogged down by sluggish demand fundamentals amid diminished mill margins, higher portside stocks in China and limited support for Brazil’s export prices despite the rainy season, market sources told S&P Global Commodity Insights Sept. 8.…
US, Saudi Arabia in talks to secure metals in Africa
The United States and Saudi Arabia are in talks to secure metals in Africa needed to help them with their energy transitions, citing people with knowledge of the talks. A state-backed Saudi venture would buy stakes in mining assets worth $15 billion in African countries such as the Democratic Republic of Congo, Guinea and…
The Deputy Minister of Industry، mine & trade and Chairman of the board of IMIDRO visited Qhaenat steel projects before noon today
According to the Public Relations of Qhaenat Steel Complex, Mohammad Reza Movasaghinia and his delegation visited DRI, briquetting and steel making units of this complex before noon today. According to this report, Javad Ashrafi, Economic Deputy of South Khorasan Governor, upon arrival of Movassaghinia, welcomed and congratulated him on his designation as Deputy Minister…
