Heavyweight local companies in the field of minerals and mining industries earned 1,345 trillion rials ($3 billion) in net profit during the first three quarters of the current Iranian year (March 21-Dec. 21), registering 25% year-on-year decline.
According to new data released by Iranian Mines and Mining Industries Development and Renovation Organization, Mobarakeh Steel Company made the highest profit among the firms under review with 345 trillion rials ($770.04 million), down 33%.
National Iranian Copper Industries Company came next with 310 trillion rials ($692.27 million), down 18%.
Chadormalu Mining and Industrial Company’s profit decreased by 23% to 140 trillion rials ($312.63 million).
Following were GoharZamin Iron Ore Co. with 108 trillion rials ($241.17 million) up 41% YOY; Golgohar Mining and Industrial Company with 66 trillion rials ($147.38 million) down 58% YOY; Khouzestan Steel Company with 39 trillion rials ($87.09 million), down 63% YOY; Hormozgan Steel Co. with 31 trillion rials ($69.22 million), down 50% YOY; Iran Alloy Steel Company with 30 trillion rials ($66.99 million), up 50% YOY; Arfa Iron and Steel Company with 27 trillion rials ($60.29 million), up 66% YOY; South Kaveh Steel Co. with 27 trillion rials ($60.29 million), up 32% YOY; and Iranian Aluminium Company with 18 trillion rials ($40.19 million), down 17% YOY.
$12b in Sales
An earlier IMIDRO report said Tehran Stock Exchange-listed mining companies earned 4.86 quadrillion rials ($10.85 billion) in sales during the same period (Q1-3), registering an 11% year-on-year rise in rial terms.
Mobarakeh Steel Company saw the highest volume of sales with 1.14 quadrillion rials ($2.54 billion), up 10%.
The National Iranian Copper Industries Company came next with more than 575.01 trillion rials ($1.28 billion), up 4%.
It was followed by Khouzestan Steel Company (Iran’s biggest steel exporter) with more than 366.86 trillion rials ($819.24 million), up 11% YOY; Esfahan Steel Company with 316.73 trillion rials ($707.3 million), up 25% YOY; and Chadormalu Mining and Industrial Company with more than 310.81 trillion rials ($694.08 million), down 6% YOY.
The report added that the approximate share of minerals and mining firms in the aggregate sales volume of all TSE-listed companies was 16% during the nine-month period.
Exports Top $9b
A total of 35.54 million tons of minerals and mining industry products worth $9.09 billion were exported from Iran during the period, registering a 5% rise in tonnage, but a 2% fall in value compared with the similar period of last year, according to IMIDRO.
Steel manufacturing chain products (iron ore, semi-finished and finished steel) topped the list of exports in terms of value with an aggregate of $4.26 billion, followed by copper and related products worth $1.11 billion and aluminum products worth $854.3 million.
In terms of tonnage, cement and clinker topped the list with 10.37 million tons. The steel came next with 7.88 million tons and was followed by pellet with 3.33 million tons.
Exports of iron ore pellets saw the biggest jump in terms of value (282%) to reach $422.4 million, followed by ferroalloys with $51.9 million (up 139%) and titanium (up 121%) with $100,000.
Exports of titanium had the highest growth in terms of weight (742%) with 300 tons. It was followed by pellet (up 226% YOY) with 3.33 million tons and aluminum products (up 60% YOY) with 347,600 tons.
Q3 (September 22-December 21, 2022) exports were reported at $1.13 billion.
The National Iranian Copper Industries Company registered the highest vale of exports in the third quarter (autumn) with $176 million.
Khouzestan Steel Company came next with $161.9 million.It was followed by Mobarakeh Steel Company with $142.5 million, South Kaveh Steel Company with $141.9 million and Kavir Steel Complex with $60.9 million.
Arfa Iron and steel Company with $51.9 million, Hormozgan Steel Co with $49.7 million, Golgohar Mining and Industrial Complex with $40 million, Chadormalu Mining and Industrial Complex with $35.3 million and Iranian Aluminium Company with $32.9 million were other main exporters in Q3.
Imports Hit $3.5b
Imports related to the mining industry and mineral products stood at 3.19 million tons worth $3.54 billion during the same period to register a 3% increase in weight and a 32% rise in value compared with the same period of the year before.
The steel category also topped the list of imports in terms of value with $1.11 billion, followed by coal and coke worth $612.7 million and ferromanganese worth $413.3 million.
Coke and coal had the highest volume of imports in terms of weight with 1.05 million tons, followed by the steel category with 792,800 tons and alumina powder with 344,600 tons.
The value of lead imports saw the biggest jump (up 500%) with $11.3 million. It was followed by zinc (460%) worth $20.3 million and antimony (326%) worth $3 million.
Lead had the highest growth of imports in terms of weight (498%) with 4,700 tons, followed by zinc (378%) with 35,200 tons and antimony (178%) with 200 tons.
Mineral Riches
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 added.
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.
Notably, Iran’s standing rose to fifth place in terms of global ranking of copper reserves, the vice president for development and exploration of the National Iranian Copper Industries Company said recently, adding that until recently, the country had the seventh largest copper reserves in the world.
“With recent discoveries in Sungun and the addition of 1 billion tons of new reserves to the mine in East Azarbaijan Province, as well as the discovery of new reserves in other mines of the company, including Sarcheshmeh, Miduk and a new mine near Sarcheshmeh in Kerman Province, the volume of the company's copper reserves has increased from 18 billion tons to 19 billion tons,” Behrouz Rahmati was also quoted as saying by Fars News Agency.
Sungun Complex, located in East Azarbaijan Province, has Iran’s largest reserves of copper.
Sarcheshmeh Copper Complex is the world’s second largest open cast copper mine located in Kerman Province. It also contains substantial amounts of molybdenum, gold and other rare metals.
“According to the United States Geological Survey’s latest report, following these explorations, the ranking of our country has risen to fifth place after Chile, Australia, Peru and Russia,” Rahmati said.
