Domestic Economy

Iranian Mines’ Value Added Up 61% in Fiscal 2019-20

Iranian Mines’ Value Added Up 61% in Fiscal 2019-20
Iranian Mines’ Value Added Up 61% in Fiscal 2019-20

A total of 4,974 mines were operational in Iran in the fiscal year ending March 2020, indicating a 1.2% increase (58 mines) compared with the year before, the Statistical Center of Iran reported. 
They generated 496,501 billion rials ($2 billion) in value added last year, registering a 61.2% growth year-on-year. 
Kerman, Yazd and East Azarbaijan provinces created the largest value added with 290,783 billion rials ($1.18 billion), 73,212 billion rials ($297.6 million) and 41,769 billion rials ($169.79 million), respectively.  
A total of 392.203 million tons of minerals worth 650,310 billion rials ($2.64 billion) were produced in the year ending March 2020, showing an increase of 8.5% in terms of weight and 64.8% in value (30.83 million tons worth 255,785 billion rials or $1.03 billion) compared with the year before. 
The value of investment in these mines reached 30,427 billion rials ($123.68 million), posting a 56.2% increase YOY. 
The number of miners stood at 107,074, up 7.4% (7,340 people) compared with the year before.
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 over 7% of global mineral reserves.
Some 410 million tons of minerals were extracted from Iranian mines in the last Iranian year (ended March 19, 2020).
Iran is home to 68 types of minerals with more than 37 billion tons of proven reserves and 57 billion tons of potential reserves. 
Iran is said to have the largest area under mineral exploration in the Middle East.

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