Domestic Economy

Iran Mineral Output to Hit $22b

Mineral exports are expected to hit $10 billion this year
Iran Mineral Output to Hit $22b
Iran Mineral Output to Hit $22b

The value of Iran’s mineral production will reach $22 billion by the end of the current fiscal year (ending March 19, 2020), says Deputy Industries Minister Jafar Sarqeini.
The country produced $20 billion worth of mineral products in the last Iranian year that ended on March 20, 2019.
According to Sarqeini, $9 billion of the total production last year were exported, while the remaining output worth $11 billion were consumed by domestic industries, IRNA reported.
The official expects exports to hit $10 billion this year.
Iran has the largest area under mineral exploration in the Middle East, according to Deputy Industries Minister Khodadad Gharibpour.
The Iranian Mines and Mining Industries Development and Renovation, the biggest state-owned mining holding of Iran, plans to cover 300,000 square kilometers of the country's explorable land for mineral explorations by the end of the current fiscal year.


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