The Iranian Mines and Mining Industries Development and Renovation Organization has released a 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 1,352 trillion rials ($5.4 billion) during the first three months of the current Iranian year (March 21-June 21) to register a 160% growth compared with the previous year’s corresponding period.
Their sales volume stood at 552.5 trillion rials ($2.21 billion) during the third month of the year (May 22-June 21) to register a 185% rise compared with the corresponding period of the year before and a 20% increase compared with the previous month.
Mobarakeh Steel Company registered the highest sales volume among the firms under review during the three-month period with 336.6 trillion rials ($1.3 billion), up 166% year-on-year.
The company’s sales during the second month of the year stood at 121.2 trillion rials ($485 million), indicating a 147% YOY increase and a 3% month-on-month decline.
MSC is the biggest steelmaker in Iran and the Middle East & North Africa region, accounting for about half of the country's steel production.
MSC was followed by the National Iranian Copper Industries Company with 135.1 trillion rials ($540 million) of sales in Q1, up by 111% YOY. The company's sales stood at 65.8 trillion rials ($263 million) during the third month of the year, up 121% YOY and 19% MOM.
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.
Golgohar Mining and Industrial Company sold 129 trillion rials ($519 million) worth of mineral products in Q1, registering a 222% rise YOY. The company's sales stood at 44.3 trillion rials ($177 million) in the third month of the year, up 227% YOY and 7% MOM.
Khuzestan Steel Company’s sales totaled 35.7 trillion rials ($143 million) in the third month, up 102% YOY. Its sales volume during the first three months of the year stood at 109 trillion rials ($436 million), up 127% YOY.
The steelmaker, located in the southwestern Khuzestan Province, is the biggest exporter of steel in Iran.
Chadormalu Mining and Industrial Company had 88.1 trillion rials ($352 million) worth of sales in Q1, up 313% YOY. The company sold 36.6 trillion rials ($146 million) in the third month to register a 328% rise YOY and a 40% increase MOM.
Esfahan Steel Company (ESCO) with 75.8 trillion rials ($303 million) worth of sales in three months, recorded a 130% growth YOY. ESCO registered an increase of 117% YOY and 3% MOM in the third month’s sales (26.7 trillion rials or $106 million).
With 49.9 trillion rials ($199 million) worth of sales during the three-month period, South Kaveh Steel Company was the other major mining firm registering a 223% rise YOY. In the third month of the year, the company’s sales reached 17.3 trillion rials ($69.4 million), up 257% YOY and down 19% MOM.
Fiscal 2020-21 in Review
The aggregate sales volume of the firms under review stood at 3.22 quadrillion rials ($12.8 billion) during 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 volume among the firms during the period with 774.6 trillion rials ($3 billion), up 98% year-on-year.
MSC was followed by the National Iranian Copper Industries Company with 419.4 trillion rials ($1.67 billion) of sales during the year, up by 87% YOY.
Khuzestan Steel Company came third as its sales totaled 306.4 trillion rials ($1.22 billion), up 93% YOY.
Golgohar Mining and Industrial Company sold 292.9 trillion rials ($1.17 billion) worth of mineral products, witnessing a 114% rise YOY.
Chadormalu Mining and Industrial Company came next with 255.5 trillion rials ($1.02 billion) worth of sales during the period, up 164% YOY.
Esfahan Steel Company (ESCO) stood at sixth place with 200.3 trillion rials ($801 million) worth of sales in 12 months, indicating an 84% growth YOY.
With 134.4 trillion rials ($537 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 ($536 million), up 153% YOY.
Iran’s export of mineral products during the last fiscal year stood at 55 million tons worth $7.6 billion, data released by the Iranian Mines and Mining Industries Development and Renovation Organization show.
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.
The value of steel products imports saw the biggest jump (39% YOY) to reach $1.37 million.
Out of 10,170 mines in Iran, 6,861 are active and 3,309 are inactive, according to the latest data announced by Statistical Center of Iran.
Of the 6,861 active mines, 6,449 mines were engaged only in production activities, 289 mines were in both production and exploration, and 123 were active in production activities, while being equipped.
Of 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 behind their inactivity.
Other causes of inactivity included mine blockage, market stagnation, lack of licenses and 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 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.
