Pakistan Steels seek to import iron ore from Iran

ISLAMABAD: Chief executive officer of Pakistan Steel Mills is on a visit to Iran to discuss and secure supplies of iron ore from a less expensive and quick source of raw material to boost PS production.

The spokesperson of the PS said that the main purpose of the visit is to explore possibilities of securing a continuous supply for the Steel Mills, IRNA News Agency Reported.

The mill is experiencing difficulties in importing iron ore from Australia, Canada and Brazil as shipments take 50 to 60 days with a high freight compared to a 10-12-day cost-effective shipment from the neighbouring country.

The spokesperson said the PS delegation would meet representatives of five Iranian companies and would also discuss possibility of barter trade, under which PS would supply metallurgical coke in exchange for Iranian ore.