The Moj News Agency has reported that Iran has agreed to sell iron ore to Pakistan Steel Mill at a price 12% percent than the price at which Pakistan is importing the ore from India.
PSM has signed a MoU with Iranian officials and a contract will soon be signed for importing Iron ore during July and August.
As per report, a Pakistani delegation has already visited Iran to assess the suitability of iron ore for use at Pakistan Steel, which estimates that it will import 185,000 tonnes per year of Iranian iron ore.
The use of Iranian ore has been under discussion for 10 years, but no previous management has made a final decision.
Source: Steel Guru
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