ISLAMABAD  - Chief Executive Officer of Pakistan Steel Mills is on a visit to Iran to discuss and secure supplies of iron ore from a less expensive and quick source of raw material to boost PSM production.

The main purpose of the visit is to explore possibilities of securing a continuous supply for the Steel Mills.

The mill is experiencing difficulties in importing iron ore from Australia, Canada and Brazil as shipments take 50 to 60 days with a high freight compared to a 10-12-day cost-effective shipment from the neighbouring country. The delegation would also discuss barter trade, under which PSM would supply metallurgical coke in exchange for Iranian ore.