Pakistan Steel switching over to indigenous raw-material, buys three iron ore mines in Balochistan

Karachi: Management of Pakistan Steel is trying to switch over as much as possible to indigenous iron ore as fluctuating prices of imported iron ore and sometimes the rising costs of transportation by cargo ships led PS to hard situations.

After comprehensive tests in the Pakistan Steel ISO certified laboratories, iron ore obtained from Balochistan is used by Pakistan Steel. About 0.65 Million Metric Tons of local Iron ore from Baluchistan was utilized in Pakistan Steel till September 2011, which not only helped to increase the economic activity in Baluchistan but also in improving the production activities of Pakistan Steel”, said the spokesman of Pakistan Steel in a statement.

He added that Pakistan Steel is not only depending on purchasing local iron ore but also purchased 3 iron ore mines lease in Baluchistan, for which PS management has formed separate departments of Captive Mining under supervision of PS senior Engineer Qaiser Saleem and an Indigenization Department, which are working on these mines, to bring out the deposits of iron ore.

“Iron ore from PS mines will cost about 50% less than imported iron ore price. The economic activity in this regard reaches to Billions of rupees which directly provided job opportunities and gave strong support in Baluchistan economy,” he said.

It may be mentioned that PS has imported last week 55000 tons each of coal and iron ore from Australia and Iran respectively.

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