Tehran Stock Exchange-listed mining firms sold 5.54 quadrillion rials ($19.72 billion) of their products in the fiscal 2021-22 (ended March 20), registering a 71% growth year-on-year.
According to new data released by Iranian Mines and Mining Industries Development and Renovation Organization, Mobarakeh Steel Company saw the highest volume of sales during the period with 1.43 quadrillion rials ($5.09 billion), up 85% YOY.
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 National Iranian Copper Industries Company came next with 789 trillion rials ($2.81 billion), up 89% YOY.
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.
It was followed by Khouzestan Steel Company (Iran’s biggest steel exporter) with 502 trillion rials ($1.79 billion), up 64% YOY; Golgohar Mining and Industrial Company with 477 trillion rials ($1.7 billion), up 63% YOY; and Esfahan Steel Company with 350 trillion rials ($1.24 billion), up 75% YOY.
The sales of mining firms in the 12th month of last Iranian year (Feb. 12-March 20) hit 650 trillion rials ($2.31 billion), registering a 41% and 31% growth month-on-month and YOY, respectively.
Mobarakeh Steel Company also had the highest volume of sales during the month with 123.94 trillion rials ($441.11 million), down 3% MOM but up 12% YOY.
It was followed by NICICO with 85 trillion rials ($302.49 million), up 1% and 13% MOM and YOY respectively.
Khouzestan Steel Company came next with 84 trillion rials ($298.93 million), up 134% and 124% MOM and YOY respectively; Golgohar Mining and Industrial Company with 77 trillion rials ($274.02 million), up 321% and 182% MOM and YOY, respectively; and Esfahan Steel Company with 33 trillion rials ($117.43 million), registering an 8% and 37% MOM and YOY growth.
The IMIDRO report shows the approximate share of mining and mining firms in the aggregate sales volume of all TSE-listed companies was 21% in the fiscal 2021-22.
Mineral Diversity, Reserves
Iran is home to 81 types of minerals with reserves totaling 37-40 billion tons, according to Alireza Shahidi, the head of Geological Survey and Mineral Exploration of Iran.
“Construction materials, including gravel, rubble stones, sand and different types of stones, account for 62% of Iran’s mineral reserves, metal minerals constitute 10-15% of total reserves and the rest are non-metallic minerals,” he said.
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.
