Khamrood coal mine to be funded by Islamic Development Bank loan

Wednesday, 19 January 2011 09:44:17 (GMT+2)   -  

Tags: coking coal , raw mat , Iran , Middle East , investments , mining | similar articles » SteelOrbis News

The Islamic Development Bank is to provide a loan of €56 million for the Khamrood coal mine in Iran. The loan will fund the construction of a coal processing plant for the mine which is to be set up within four years and will be refunded within 12 years, Iranian sources said.

Khamrood coal mine will have a capacity of 750,000 mt per year of coal and 400,000 mt per year of coal concentrate when it comes on stream. Khamrood coal mine is located near Zarand city in the province of Kerman - an area rich in coal and iron ore resources.