Economy, Business And Markets

Iran Among Top 10 Mineral Producers in 2013

Iran Among Top 10  Mineral Producers in 2013Iran Among Top 10  Mineral Producers in 2013

The latest report published in 2015 by the International Organizing Committee for World Mining Congresses shows Iran ranked eighth in 2013 in terms of the value of produced minerals.

According to the report, in 2013, Iran produced $162.37 billion worth of minerals, including mineral fuels such as oil, natural gas and coal, metallic and non-metallic minerals and precious metals. Mineral fuels accounted for the majority of mineral production during the period with 95%, followed by iron and ferroalloys with 2.6%, non-ferrous metals with 1.4%, industrial minerals with 0.54% and precious metals with 0.05%.

The report by the WMC—a UN-affiliated organization run by a permanent secretariat seated in Poland—reveals that China tops the list in terms of mineral production value having produced $777.34 billion worth of minerals in 2013 followed by the United States with $577.72 billion, Saudi Arabia with $447 billion, Russia with $421.6 billion, Australia with $205.54 billion and Canada with $204.52 billion.  

The WMC 2015 report also shows that Iran ranked the 10th biggest producer of minerals in terms of volume, followed by giant producers such as China, Russia, Australia and India. The country produced more than 348.35 million tons of minerals in 2013, registering a 1.7% decline compared to 2012. The declining trend in the production of minerals started in 2011 when western sanctions imposed against Iran over its nuclear energy program were tightened.

After mineral fuels, gypsum was Iran’s second biggest mineral product in 2013 with 21.12 million tons, followed by 17.37 million tons of steel. Based on the report, steel production in Iran witnessed a 28.58% growth between 2009 and 2013, while the growth from 2012 to 2013 was 11.15%. Feldspar experienced the highest growth of 118.87% in volume in 2013 compared with a year earlier. Silver saw the highest decline in production in 2013 with -98.3% growth.

Despite tough western sanctions, the country was the seventh biggest producer of petroleum in 2013, producing more than 166 million tons, accounting for 4.08% of the global production in that year. Canada overtook Iran in 2013 by producing 172.37 million tons of the mineral, followed by Saudi Arabia, the US, Russia and China.

Iran also maintained its 2012 rank of being the fourth biggest producer of natural gas in 2013 by producing 166.55 million cubic meters of the product, accounting for 4.73% of global output. The US, Russia, and Canada topped Iran in 2013 in terms of natural gas production while Qatar remained behind Iran by producing 158.5 million cubic meters.

Iran is also ranked among the world’s top 15 major mineral-rich countries. It holds some 68 types of minerals and more than 57 billion tons of potential reserves. With roughly 1% of the world’s population, the country holds more than 7% of global mineral reserves.