Iran has exported 15 million tons of iron ore totaling over 600 million dollar despite imposition of sanctions against the country. Western countries have intensified sanctions against Iran over recent weeks aiming to limit Iran's mutual economic exchanges with other countries.

China is the key market for Iran's iron ore and other countries including Pakistan, Austria, Jordan, UAE, Indonesia, Turkmenistan, Iraq, Saudi Arabia, Kuwait, India, Vietnam, Turkey and Germany receive Iran's ironstone in their markets.

Iran's production of iron ore hits 23,218,093 tons in the first 10 months of 2011.

Iran which is the biggest supplier of China's petroleum also became the 5th supplier of the country's iron ore which possessed 2.4 percent of China's import of 686 million tons of iron ore.

Based on the report released by the U.S. Geology Organization, Iran was ranked 10th in iron ore production in the world.

China, Australia, Brazil, India, Russia, Ukraine, South Africa, the U.S., Canada and Iran are 10 biggest iron ore producers.

Iranian companies are carrying out more than 100 projects in foreign countries and it is scheduled to reach 400 projects over the next months.