Iron and Steel

244% of profitability growth for Sabanour Company last year

244% of profitability growth for Sabanour Company last year
Mining News Pro - Chief executive of Sabanour mining and industrial development company said that last year the company’s profitability grew by 244 percent.
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According to Mining News Pro - Mohammad Kalantari, CEO of Sabanour Mining and Industrial Company, said that this company is among the top ten companies in producing iron ore, pellet and concentrate in the exchange market and the largest producer of these commodities in the west region of Iran.

“The main target of our company is to explore, extract, and refine iron ore and to produce concentrate, pellet and completing the steel supply chain,” he said.

“Currently, Sabanour has 3 mines in Kurdistan and Hamedan. BabaAli mine with 11 million tons of magnetite ore and operating license with the limitation of 600 thousand tons per year, Galali mine with 25 million tons of magnetite ore and operating license with the limitation of 250 thousand tons per year, and Shahrak mine with 44 million tons of magnetite ore capacity and operating license with the limitation of 125 thousand tons per year.

Iron ore market situation in Iran and the world
“From the year 2000 to 2005, iron ore price jumped from $29 to $65 per ton. From 2005 to 2008 due to the price of this mineral jumped sharply to $197 per ton due to the growth of Chinese demand. However, in 2008 iron ore prices plummeted due to the global economic crisis. However, in 2009 the price of iron ore resumed its growing trend and in 2011 it reached $187 per ton. However, due to the growth of iron ore production in the world, by 2015 the price of this mineral fell sharply to $41 per ton. After that the price started to grow again and currently is on the edge of $100 per ton,” he explained.

“The price of this mineral in our country is calculated based on Khouzestan steel ingots. In 2011 the price of this mineral was 720 thousand tomans per ton; however, from 2011 to 2019 the price increase to 4 million tomans per ton. This year it reached 4,700,000 tomans per tone.

Sabanour’s good performance in 2019
Kalantari mentioned the growth of the company`s productions and said: “In 2015, Sabanour mining and industrial development company produced 1.1 million tons of iron ore. From 2016 to 2019 this number has been increased 2 million tons per year which shows a 16 percent increase.”

“1.2 million tons of iron ore concentrate has been produced in 2019 that means 4 percent growth compared to 2018. Also Sabanour produced 428 thousand tons of pellet last year,” he added.

 

News by: Faranak Jalali Farahani


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