Heavyweight mining firms earned 1,617 trillion rials ($6.5 billion) in net profit in the fiscal 2020-21, registering a 167% year-on-year growth.
According to new data released by Iranian Mines and Mining Industries Development and Renovation Organization, Mobarakeh Steel Company made the highest profit among all the mining firms under review with 382.78 trillion rials ($1.5 billion), up 159% YOY.
The National Iranian Copper Industries Company came next with 260.46 trillion rials ($1 billion), up 118% YOY.
Chadormalu Mining and Industrial Company’s profit increased by 272% YOY to 170.93 trillion rials ($694 million).
It was followed by Golgohar Mining and Industrial Company with 141.6 trillion rials ($575 million), up 117% YOY; Khouzestan Steel Company with 111.66 trillion rials ($453 million), up 234% YOY; Development of Mines and Metals Company with 94.58 trillion rials ($384 million), up 237% YOY; Hormozgan Steel Company with 52.03 trillion rials ($211 million), up 247% YOY; Gohar Zamin Iron Ore Company with 43.27 trillion rials ($175 million), up 89% YOY; South Kaveh Steel Company with 32.02 trillion rials ($130 million), up 229% YOY; and Arfa Iron and Steel Company with 25.96 trillion rials ($105 million), up 230% YOY.
The heavyweight mining firms under review brought in 606.87 trillion rials ($2.46 billion) in the fiscal 2019-20.
Sales at $13 Billion
An earlier report by IMIDRO on the sales of 74 heavyweight Tehran Stock Exchange-listed mining and mineral companies showed that the aggregate sales of firms under review stood at 3.22 quadrillion rials ($13 billion) in the last Iranian year (ended March 20, 2021) to register a 105% rise compared to the year before.
Mobarakeh Steel Company registered the highest sales among the firms during the period with 774.6 trillion rials ($3.14 billion), up 98% year-on-year.
MSC is the biggest steelmaker in Iran and the Middle East and North Africa region, accounting for about half of the country's steel production. It was followed by the National Iranian Copper Industries Company with 419.4 trillion rials ($1.7 billion) of sales during the year, up by 87% YOY.
NICICO is a leading copper producer in the Middle East and North Africa region and its mines hold close to 14% of Asia’s copper deposits and about 3% of global reserves.
Khuzestan Steel Company came third, as its sales totaled 306.4 trillion rials ($1.24 billion), up 93% YOY.
The steelmaker, located in the southwestern Khuzestan Province, is the biggest exporter of steel in Iran.
Golgohar Mining and Industrial Company sold 292.9 trillion rials ($1.19 billion) worth of mineral products, witnessing a 114% rise YOY.
Chadormalu Mining and Industrial Company came next with 255.5 trillion rials ($1.03 million) worth of sales during the period, up 164% YOY.
Standing at sixth place was Esfahan Steel Company (ESCO) with 200.3 trillion rials ($814 million) worth of sales, indicating an 84% growth YOY.
With 134.4 trillion rials ($546 million) worth of sales last year, South Kaveh Steel Company was next to register a 120% rise YOY.
Hormozgan Steel Company’s sales in the year under review reached 134.1 trillion rials ($545 million), up 153% YOY.
Exports at $7.6 Billion
Iran’s export of mineral products during the last fiscal year stood at 55 million tons worth $7.6 billion, data released by IMIDRO show.
The exports show a 21% and 11% decline in total volume and value year-on-year respectively.
According to IMIDRO, steel topped the list of exports in terms of value with $4.1 billion and was followed by copper with $958 million and cement with $758 million.
In terms of tonnage, cement had the largest share with 24.3 million tons, followed by steel with 9.69 million tons.
Alumina powder exports saw the biggest jump in terms of value (335% YOY) to reach $1.8 million, followed by aluminum products with $321 million (up 177% YOY).
The sharpest fall in export value was recorded for pellet (down 93% YOY to reach $14.3 million) and iron ore (down 89% YOY to reach $32.4 million).
In terms of tonnage, aluminum products posted the biggest growth (183% YOY) to reach 171,000 tons, followed by alumina powder (up 163% YOY to reach 880 tons) and zinc products (up 48% YOY to reach 209,000 tons).
Precious metals and minerals (such as gold and silver) had the sharpest decline in tonnage (down 97% YOY).
The IMIDRO report also shows import of mineral products stood at 4.15 million tons worth $3.4 billion during the same period. The import shows a 13% increase in total volume and a 6% growth in value compared with the same period of the year before.
Steel also topped the list of mineral imports in terms of value with $1.3 billion. It was followed by coal and coke with $300 million worth of imports. Aluminum products with $290 million came next.
In terms of tonnage, steel topped the list with 1.217 million tons, followed by coal and coke with 1.21 million tons, alumina powder with 314,000 tons and aluminum products with 168,000 tons.
Out of 10,170 mines in Iran, 6,861 are active and 3,309 are inactive, according to the latest data announced by the Statistical Center of Iran.
From the 6,861 active mines, 6,449 mines were engaged only in production, 289 mines were in production and exploration, and 123 were in production, while they were being equipped.
From the 3,309 inactive mines, 289 were only being equipped, 60 mines had less than 30 days of operation, 513 mines had been permanently closed, 208 were temporarily closed and 430 had other reasons for inactivity.
Other common causes of inactivity were mine blockage, market stagnation and lack of licenses, as well as legal and environmental problems.
Statistics were collected from February 19 to May 1 in the fiscal 2021-22, IRNA reported.
Iran’s mineral reserves stand at around 60 billion tons, more than half of which are proven. The country is home to 68 types of minerals.
According to the United States Geological Survey, Iran holds the world's largest zinc, ninth largest copper, 10th largest iron ore, fifth largest gypsum and barite, and 10th largest uranium reserves.
Overall, Iran is home to more than 7% of global mineral reserves.
