Iran ensures Pakistan to supply iron ore

Iran ensures Pakistan to supply iron ore

As reported by SteelOrbis early this week, Iranian Deputy Minister for Mines and Industry and chairman of Pakistan Steel Mills (PSM) agreed to enhance steel trade between the two countries. According to the deal, Iran would supply iron ore to Pakistan however the details of the agreement were not revealed. Iranian officials have announced that Iran will supply iron ore to Pakistan for five years. Moreover, Iran will conduct a survey for exploration of iron ore and other minerals in Pakistan. Pakistan officials stated that the country has potential raw material reserves however there is a lack of the necessary technical equipment to explore the deposits. Through this deal, Pakistan will not have to import raw material.