Tehran Stock Exchange-listed mining firms sold products worth 1.13 quadrillion rials ($3.49 billion) in the first two months of the current fiscal year (March 21-May 21), registering a 24% growth year-on-year.
According to data released by Iranian Mines and Mining Industries Development and Renovation Organization, Mobarakeh Steel Company saw the highest volume of sales during the period with 294.29 trillion rials ($908.3 million), up 37% YOY.
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.
The National Iranian Copper Industries Company came next with 124.34 trillion rials ($383.77 million), up 79% YOY.
NICICO is a leading copper producer in the MENA region and its mines hold close to 14% of Asia’s copper deposits and about 3% of global reserves.
It was followed by Khouzestan Steel Company (Iran’s biggest steel exporter) with 67.24 trillion rials ($207.53 million), down 8% YOY; Esfahan Steel Company with 64.96 trillion rials ($200.49 million), up 75% YOY; and Golgohar Mining and Industrial Company with 48.81 trillion rials ($150.65 million), down 43% YOY.
The sales of mining firms in the second month of the current Iranian year (April 21-May 21) hit 567.07 trillion rials ($1.75 billion), registering a 17% growth YOY.
Mobarakeh Steel Company also had the highest volume of sales during the month with 173.61 trillion rials ($535.83 million) up 31% YOY. It was followed by NICICO with 81.32 trillion rials ($250.99 million), up 47% YOY.
Khouzestan Steel Company came next with 40.81 trillion rials ($125.96 million), up 2% YOY; Golgohar Mining and Industrial Company with 37.41 trillion rials ($115.46 million), down 34% YOY; and Esfahan Steel Company with 34.27 trillion rials ($105.77 million), registering a 32% YOY growth.
The IMIDRO report shows the approximate share of mining firms in the aggregate sales volume of all TSE-listed companies was 23% during the two-month period.
The TSE-listed mining firms sold 5.54 quadrillion rials ($17.1 billion) of their products in the fiscal 2021-22 (ended March 20), registering a 71% growth year-on-year.
According to IMIDRO, Mobarakeh Steel Company saw the highest volume of sales during the period with 1.43 quadrillion rials ($4 41 billion), up 85% YOY.
Iran is home to 81 types of minerals with reserves totaling 37-40 billion tons, according to Alireza Shahidi, the head of Geological Survey and Mineral Exploration of Iran.
“Construction materials, including gravel, rubble stones, sand and different types of stones, account for 62% of Iran’s mineral reserves, metal minerals constitute 10-15% of total reserves and the rest are non-metallic minerals,” he said.
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.
