China, Iran’s choice for export of minerals

TEHRAN, Jun. 02 (MNA) – Deputy Minister of Industry, Mine and Trade Mehdi Karbassian said, “China accounts for 50% share in the world in terms of production and business of minerals and is a proper choice for being replaced with the companies that breached their promise within the framework of Joint Comprehensive Plan of Action (JCPOA).”

China is a reliable trade partner to Iran both in pre- and post-sanctions era, so that Iran should expand its cooperation with this country significantly, because, China accounts for 50% share of production of minerals in the world including steel, aluminum, coal, copper, chrome and iron ore, he maintained.

Chief Executive of Iranian Mines and Mining Industries Development and Renovation Organization (IMIDRO) pointed to steel product that was considered in 90-day of US sanctions list and said, “World Steel Association (WSA) has adopted drastic measures to deal with the problem.”

Following the US pullout from JCPOA, some European companies have cast their doubt either to remain or leave Iran’s lucrative market, although European Commission has announced that it will implement the 'Blocking Statute' to protect European companies in order to confront with US sanctions imposed on Iran.

In conclusion, Deputy Minister of Industry Mehdi Karbasian said, “recently, Russia’s UMMC Company, which has 18 years of experience in mineral activities, has announced its readiness to cooperate with Iran in relevant field.”

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News Code 134504

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