KIOCL Ltd.

Mining
India
kioclltd.in

[email protected]

"An Indian state company has agreed to sell high-quality iron ore pellets to Iran, its chairman told Reuters, in what could be a $200 million annual deal that signifies expanding business ties between the countries as sanctions against Tehran ease... KIOCL Ltd, owned by India's steel ministry, could sell as much as 2 million tonnes of pellets to Iran to meet substantial local demand, Chairman Malay Chatterjee said. Keyvan Ja'fari Tehrani, head of international affairs at the Iranian Iron Ore Producers and Exporters Association, said a final agreement was yet to be struck. But he agreed the demand was there. 'The production of pellets in Iran is not sufficient,' Tehrani said, adding there's a need to import between 7 and 8 million tonnes a year. Iran produced 21 million tonnes of iron ore pellets last year while demand reached 28 to 29 million tonnes, he said. KIOCL has been in talks with Tehrani as well as Iran's state-owned mines and metal holding company IMIDRO and the Iranian Mines and Mining Industries Development and Renovation Organisation, said Tehrani. Negotiations are also going on to bring in 1 million tonnes of low-quality iron ore from Iran, process it at KIOCL's coastal facilities in India, then export pellets to Iran, said Chatterjee. A senior steel ministry official confirmed the talks." (Reuters, "India to sell high-grade iron pellets to Iran as ties strengthen," 7/28/15)

 

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“With plans of exporting iron pellets to China falling through and efforts to gain a captive mine in the State yielding no results, Mangalore-based KIOCL is now looking for a bilateral agreement with the government of Iran to import iron ore and export pellets… ‘On a rupee-trade mechanism, KIOCL is proposing to open up export mechanism with Iran. The Iranian Minister of Mining had visited Delhi and overviewed the functioning of the company. KIOCL can play a role in meeting the big demands there…We are upbeat about this and the ministry is also supporting the proposal,’ he said. Iran, Mr. Chatterjee said, would import more than 20 million tonnes of iron pellets over the next five years, and KIOCL had the capacity to produce 4 million tonnes annually.” (The Hindu, "KIOCL to source iron ore from Iran," 08/5/14)