Financial Tribune - The Ministry of Industries, Mining and Trade will impose 20-25% tariffs on export of unprocessed minerals as of Sept. 23.

According to Deputy Industries Minister Jafar Sarqeini, the decision is aimed at supporting domestic production, preventing export of unprocessed minerals and generating more value-added.

Sarqeini noted that tariff levied on the export of iron ore concentrates and pellets will amount to 25%, the Industries Ministry's news service Shata reported.

Iron ore seems to be at the forefront of the new restrictive measure, as Iran will face a shortage of iron ore to feed its steel industries in the near future.