The Iranian Mines and Mining Industries Development and Renovation Organization has released a new report on the sales of 74 heavyweight Tehran Stock Exchange-listed mining and mineral companies.
According to the report, the aggregate sales volume of the firms under review stood at 848.1 trillion rials ($3.47 billion) during the first two months of the current Iranian year (March 21-May 21) to register a 171% increase compared to the previous year’s corresponding period.
Their sales volume stood at 460.6 trillion rials ($1.88 billion) during the second month of the current Iranian year to register a 152% rise compared with the corresponding period of the year before and a 49% increase compared with the month before.
Mobarakeh Steel Company registered the highest sales among the firms during the period with 215.3 trillion rials ($882 billion), up 177% year-on-year. The company’s sales during the second month of the year stood at 124.5 trillion rials ($510 million), indicating a 141% YOY increase and a 37% month-on-month growth.
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 company was followed by the Iranian National Copper Industries Company with 69.3 trillion rials ($284 million) of sales during the two months, up by 102% YOY. The company's sales stood at 55.3 trillion rials ($226 million) during the second month of the year, up 100% YOY and 295% MOM.
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’s sales totaled 39.3 trillion rials ($161 million) in the second month, up 205% YOY. Its sales volume during the period reached 73.3 trillion rials ($300 million), up 141% YOY.
The steelmaker, located in the southwestern Khuzestan Province, is the biggest exporter of steel in Iran.
Golgohar Mining and Industrial Company sold 77 trillion rials ($315 billion) worth of mineral products, witnessing a 226% rise YOY. The company's sales stood at 41.5 trillion rials ($170 million) in the second month of the year, up 220% YOY and 35% MOM.
Chadormalu Mining and Industrial Company had 51.5 trillion rials ($211 million) worth of sales in the two months, up 304% YOY. The company sold 26.1 trillion rials ($106 million) in the second month to register a 23% rise YOY and a 3% increase MOM.
Esfahan Steel Company (ESCO) with 49.1 trillion rials ($201 million) worth of sales in two months, recorded a 112% growth YOY. ESCO registered a 94% YOY and a 12% MOM rise in its second month’s sales (24.6 trillion rials or $102.5 million).
With 32 trillion rials ($131 million) worth of sales last year, South Kaveh Steel Company was the other major mining firm that registered a 215% rise YOY. In the second month of the year, the company’s sales reached 21.5 trillion rials ($88 million), up 225% YOY and 96% MOM.
Hormozgan Steel Company’s sales in the period reached 33 trillion rials ($135 million), up 270% YOY. The company’s sales amounted to 23 trillion rials ($94 million) in the second month, up 553% YOY.
Fiscal 2020-21 Sales
The aggregate sales volume of the firms under review stood at 3.22 quadrillion rials ($13.4 billion) during the last Iranian year (ended March 19) to register a 105% rise compared to the year before.
Mobarakeh Steel Company registered the highest sales volume among the firms during the period with 774.6 trillion rials ($3.22 billion), up 98% year-on-year.
MSC was followed by the Iranian National Copper Industries Company with 419.4 trillion rials ($1.7 billion) of sales during the year, up by 87% YOY.
Khuzestan Steel Company ranked third, as its sales totaled 306.4 trillion rials ($1.27 billion) in 12 months, up 93% YOY.
Golgohar Mining and Industrial Company sold 292.9 trillion rials ($1.22 billion) worth of mineral products in 12 months, witnessing a 114% rise YOY.
Chadormalu Mining and Industrial Company came next with 255.5 trillion rials ($1.06 million) worth of sales in the said period, up 164% YOY.
Standing in the sixth place was Esfahan Steel Company with 200.3 trillion rials ($834.5 million) worth of sales in 12 months, indicating an 84% growth YOY.
With 134.4 trillion rials ($560 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 ($558.7 million), up 153% YOY.
Fiscal 2020-21 Exports
Iran’s export of mineral products during the last fiscal year (ended March 2021) stood at 55 million tons worth $7.6 billion, latest data released by the Iranian Mines and Mining Industries Development and Renovation Organization 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 the import of mineral products stood at 4.15 million tons worth $3.4 billion during the same period. The imports show 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 1.21 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.
The value of steel products’ imports saw the biggest jump (39% YOY) to reach $1.37 million.
Iran’s mineral reserves currently stand at 60 billion tons, more than half of which are proven. Iran 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.
