Iron ore and Coal

Chadormalu Capital Increases 30-40% on ChadormaLo`s Agenda with Golgohar and Hormozgan Steel in Australian Mines

Chadormalu Capital Increases 30-40% on ChadormaLo`s Agenda with Golgohar and Hormozgan Steel in Australian Mines
Mining News Pro - The latest status of Chadormalo`s plans was reviewed, with the latest status of steel mill projects and capacity increase of up to 1,300,000 tons, a plan to produce 450,000 tons of rebar, investment in Australian mines and an increase of 40 percent.

According to Mining News Pro -Mahmoud Mesri Nejda explained in this regard: Chadeormalo`s pelleting plan was launched in 2007. The production capacity of the project is 3.4 million tons per year, equivalent to 11,330 tons per day. However, with recent improvements in development plans, the plant`s production has increased to 12,000 tons per day, or more than 4 million tons per year.
He continued to produce concentrates, adding that the production of this product in the complex is 10.5 million tons, which is currently producing 4 million tons of pellets.
Maseri Nezhad added that sponge iron is also located in two factories each with a production capacity of 800,000 tons and another one with a capacity of one million and 600 thousand tons. We are currently waiting for the equipment to complete this project from the customs so we can begin production.

He said about steel production: we have about 800 thousand tons, which is expected to increase to one million tons. It also has a capacity of up to one million and 300 thousand tons.
According to Egypt, the amount of rebar production is 450 thousand tons. The product can increase up to 550 thousand tons.

He further noted: Abar kuh steel mill with a production capacity of 600,000 tons is located in the Chadormalo program. The operation of this plant awaits the arrival of the equipment to the country.
He continued to manufacture steel with a new charge-charging method and said: "We are investigating the implementation and production of steel with a new hot-charging method to save energy and reduce production simultaneously." Accordingly, the energy required will be reduced by about a third. This increases the production of steel in Chadeormalo from one million to one million and 300 thousand tons.

Director of Chadermollo Industrial Complex continued to provide electricity and said: "A 500 MW power plant is in the vicinity of the factory." In this way, we will not have enough electricity.
"We do not have a hot charging system yet. We expect the production capacity to reach 1 million next year so that up to a new system and scheduling will take place, then one million And 300 thousand tons of steel.

He went on to refer to the water pipeline from the Persian Gulf and said: Chadeormalo, Golgohar and Sarcheshmeh copper companies are located in the Persian Gulf water pipeline to meet the needs for water shortages. Currently, the pipeline runs from Bandar Abbas to Golgohar , after which it is examined from Golgohar to Sarcheshmeh copper.

He added that the third phase of the project involves the transfer of water from Sarcheshmeh copper to Chadormalo, where the contracts are closed and in operation. So some excavation has been done in the last few steps.

Mahmoud Seyyedi, Economic Chief Financial Officer of Chadormalo, also referred to another development plan, saying: "We are planning to invest in Australian mines." This project is being examined in cooperation with three Chadormalo, Golgohar and Hormozgan steel companies on behalf of Mobarakeh Steel. In this regard, three mineral deposits are identified in Australia and it is expected that 12.5 million tons of concentrate will be produced per year.

He added: "We sell ore products in the world markets or we will go to Iran for domestic production."

He further noted another development plan in the Makran region, adding that the project is also being pursued in cooperation with Chadormalo, Golgohar and Mobarakeh Steel. Production of 12.5 million metric tons of concentrate and, ultimately, 10 million tons of steel production will be among the positive effects of this development plan.

He continued to focus on the company`s capital increase and said: "With a current capital of 785.714.286 USD, we have an increase of 30 to 40 percent in our program."

Chadormalo, Chief Financial Officer, continued to offer products and products on the stock exchange, saying: "We are opposed to price regulation." The basis for the supply and demand exchange The government should not enforce the price quotation and allow the actual demand for the basis of pricing to be determined.

He added: "Until these policies are corrected, we will not have latitudes on the stock exchange. He continued: "Even if the government, with the same method of command, decides to force our supply of goods on the stock exchange, we will stop production.

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