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The board of directors in Gohar Zamin Iron Ore Company elected

ME-METALS: The representatives of Gol Gohar Mining and Industrial Company, Mines and Metals Development Investment Company, Ghadir Investment, Omid Investment Group, and Sepah Investment Group, formed the five members of the Board of Directors at Gohar Zamin Iron Ore Company.

Reported by Me-Metals quoting from Gohar Zamin Public Relations, shareholders of five companies elected as the members of the board of directors at the extraordinary general meeting of Gohar Zamin Iron Ore Company, by participating of more than 96% of shareholders.

According to this report, Ali Akbar Pooriani, CEO of Gohar Zamin Iron Ore Company, mentioned to the development plans of the company on the sidelines of the forum and said: "Creation of a 5 million tons of pellet production line and 2 concentrate production lines with a capacity of 2 million tons per year, are included in the development plans of the company, which hopefully by a consistent follow-up will lead to a great result by the end of the year.

Looking at the US sanctions, he added: "Although US sanctions have increased costs in the business sector, it has failed to distract our plans and predictions”. In the ceremony, Gholamhossein Rahimian, vice CEO of Gohar Zamin Iron Ore Company, said that the company had produced more than 4 million tons of concentrate in 2018, and the average iron contained in ores in Iron Ore No. 3 in Gohar Zamin is 53 percent and FeO is about 17 percent.

Referring to the export markets of the company and the amount of exports, he said: "Our target market is China, but last year we also had a small amount of exports to the UAE and India, but in general, currently, our main export market is China."

Pooriani pointed out to the speed of the dependence and demand of mankind to industrial production as a global trend, adding that: “Reserves and mines in the planet are limited and the number of resources for mineral mines are also small. Our country is of one of the richest climates in the world. Kerman Province and Sirjan town which have iron ore mines are the industry and mine centers of the country.

He added: "We are glad that with the help of the staff of the company we have been able to make progress in the field of industry and mine and provide a platform for accelerating the country's economy.”

The deputy chairman of the Gohar Zamin Iron Ore Company continued: “Gohar Zamin is an export-oriented company and according to the company's plans, almost 50% of the production of concentrates is dedicated to exports”.

About the concerns and challenges of the Iranian mineral industry Rahimian stated: "Except for macroeconomic issues, such as stability and economic security, the provision of large and strategic mineral equipment is one of the main concerns of Iranian mineral industry during the sanctions. It is not possible to supply many of these machines and equipment on the domestic market. Also, given the currency problems that the Iranian economy is currently struggling with, it will be very time consuming to supply this equipment in order to both register and its construction and delivery.

According to the report, Jamali as the chairman of the assembly, Ali Akbari as the first supervisor, Afzal as the second supervisor, Pooriani as the secretary of the assembly, Khalilzadeh as the representative of the Securities and Exchange Organization, and Abdi as the representative of the Legal Inspector of the company, were chosen as the members of the board of directors.

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