Heavyweight Mining Firms' Annual Net Profits Rise 167% to $6.5b

Heavyweight mining firms earned 1,617 trillion rials ($6.5 billion) in net profit in the fiscal 2020-21, registering a 167% year-on-year growth.
According to new data released by Iranian Mines and Mining Industries Development and Renovation Organization, Mobarakeh Steel Company made the highest profit among all the mining firms under review with 382.78 trillion rials ($1.5 billion), up 159% YOY.
The National Iranian Copper Industries Company came next with 260.46 trillion rials ($1 billion), up 118% YOY.
Chadormalu Mining and Industrial Company’s profit increased by 272% YOY to 170.93 trillion rials ($694 million).