Economy, Business And Markets

Mineral Output Up 8.7%

Mineral Output Up 8.7%Mineral Output Up 8.7%

Major Iranian mining companies produced 112.6 million tons of different products during the first four months of the current fiscal year (March 21-July 22), registering an 8.7% growth compared with last year’s corresponding period, the Iranian Mines and Mining Industries Development and Renovation Organization announced in its latest report.

The miners’ output for Tir, the fourth month of the Iranian year ending July 22, indicates a 7.57% year-on-year rise to reach 27.83 million tons.

Iran is home to 68 types of minerals with over 37 billion tons of proven and 57 billion tons of potential reserves, including coal, iron ore, copper, lead, zinc, chromium, uranium and gold.

 Upstream Steel Sector

Iron ore concentrate had the biggest share in Iran’s mineral production during the four-month period with 12.449 million tons, registering a 28.3% growth YOY.

Gologhar Mining and Industrial Complex accounted for 4.46 million tons of the total output, followed by Chadormalu Mining and Industrial Complex with 2.84 million tons, Iran Central Iron Ore Company with 1.56 tons, Goharzamin Iron Ore Company with 1.41 million tons, Middle East Mines and Mining Industries Development Holding Company with 1.26 tons, Opal Parsian Sangan with 711,715 tons and Sangan Iron Ore Complex with 190,940 tons.

All iron ore concentrate miners recorded double-digit growth in their output, except Golgohar that registered a 12.4% decline.

Production of granulated iron stood at 1.87 million tons, down 7.8% YOY. Iran Central Iron Ore Company was the biggest producer with 613,500 tons, followed by Sangan Iron Ore Complex with 373,461 tons, Jalalabad Iron Ore Company with 357,242 tons, Iran Central Plateau Iron Ore Company with 301,854 tons, Chadormalu Mining and Industrial Complex with 127,940 tons and Mishdavan Iron Ore Company with 102,226 tons.

Pellet had the second largest share with a total output of 10.335 million tons, up 23.4% YOY. Golgohar was the largest producer with 3.51 million tons, followed by Mobarakeh Steel Company with 2.56 million tons, Khouzestan Steel Company with 2.20 million tons, Chadormalu with 1.08 tons and MIDHCO with 968,199 tons.

Direct-reduced iron came next with the production of 6.2 million tons, up 13% YOY. Mobarakeh had the lion’s share with 2.49 million tons, followed by KSC with 1.42 million tons, Hormozgan Steel Company with 546,684 tons, South Kaveh Steel Company with 443,284 tons, Saba Steel Complex with 372,624 tons, Khorasan Steel Company with 368,566 tons, MIDHCO with 276,081 tons and Ghadir Iron and Steel Company with 283,502 tons.

 Downstream Steel Sector

Semi-finished steel had the fourth largest share in mineral production during the four months. Iranian steel mills produced 5.42 million tons of slab, bloom, billet and ingot, up 14.2% YOY.

Mobarakeh Steel Company was at the forefront with 2.79 million tons. KSC came next with 1.25 million tons, followed by Esfahan Steel Company with 726,864 tons, South Kaveh Steel Company with 261,224 ton, Khorasan Steel Company with 214,072 tons, Iran Alloy Steel Company with 151,628 tons and Iran National Steel Industries Group with 28,164 tons.

All producers posted robust growth, with the exception of ESCO whose output dropped 12.3% YOY.

The production of 3.33 million tons of steel products, including hot- and cold-rolled coil, rebar, beam, pipe, wide and galvanized sheet, showed a decline of 0.6% YOY.

MSC and its subsidiary Saba Steel had the largest share of production with 1.87 million tons, followed by ESCO with 704,781 tons, Oxin Steel Company with 233,268 tons, Khorasan Steel Company with 161,051 tons, Ahwaz Rolling and Pipe Mills Company with 79,628 tons, IASCO with 103,411 tons, INSIG with 76,600 tons, Chaharmahal-Bakhtiari Automotive Sheet Company with 64,816 tons and Azarbaijan Steel Company with 37,034 tons.

 Copper Sector

Copper mines operated by National Copper Industries Company extracted 54.72 million tons of copper oxide ore during the period, up 5.6% YOY.

Sarcheshmeh Copper Complex accounted for 26.41 million tons of the total output. Sungun Copper Complex with 16.85 million tons and Miduk Copper Mine with 11.45 million tons came next. With the exception of Sungun, all the above mines registered output growth.

The three mines’ sulfide copper ore extraction was up 1.6% YOY to 17.38 million tons.

Copper concentrate was the main product manufactured in this sector, reaching 374.66 tons and recording a 0.9% rise YOY. It was followed by copper anode with 58,685 tons, down 24.9%; copper cathode with 45,647 tons, down 24.6%; and molybdenum with 12.46 tons, up 7.1% YOY.

 Aluminum Sector

Iran’s three major aluminum producers produced an aggregate of 109,822 tons of aluminum ingots in the four months to register a 5.9% decline YOY. Iran Aluminum Company produced 55,575 tons, Hormozal Aluminum Company 34,510 tons and Almahdi Aluminum Company 19,737 tons.

Iran Alumina Company produced 81,490 tons of alumina powder, up 3.4% YOY.

 Lead & Zinc

Major Iranian lead and zinc producers extracted 259,940 tons of ore during the period, of which Angouran Lead and Zinc Complex accounted for 250,202 tons and Nakhlak Lead and Zinc Plant for 9,738 tons.


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