Economy, Domestic Economy

Iran H1 Mineral Exports Hit $4.7b

H1 Mineral Exports Hit $4.7bH1 Mineral Exports Hit $4.7b

Iran exported more than 34.61 million tons of mineral products worth over $4.77 billion during the first half of the current fiscal year (March 21-Sept. 22), registering an 8% and 4% growth in tonnage and value respectively compared with last year's corresponding period.

Mineral imports during the same period stood at 2.68 million tons worth $1.97 billion, registering a 10% decline and 2% increase in tonnage and value respectively year-on-year, the Iranian Mines and Mining Industries Development and Renovation Organization announced.

Semi-finished steel took the lion’s share of exports in terms of value, as 4.16 million tons worth $1.455 billion were shipped overseas, up 14% in volume and down 12% in value YOY.

Pottery, brick, ceramic and tile shipments followed with 5.97 million tons worth $881.54 million, up 16% in both trade volume and value.

Iron ore came next with 9.266 million tons worth $515.21 million. The volume and value of shipments recorded growths of 9% and 57% respectively YOY.

It was followed by 318,000 tons of copper and copper exports valued at $318.94 million, down 25% and 34% in tonnage and value respectively.

Other exported mineral commodities during the six-month period included steel products with 318,000 tons worth $318.94 million, cement with 7.98 million tons worth $290.42 million, stones with 3.19 million tons worth $192.55 million, aluminum with 179,000 tons worth $200.60 million tons, zinc with 108,000 tons worth $193.41 million, direct-reduced iron with 428,000 tons worth $111.11 million and lead with 65,000 tons worth $98.55 million.

Next in line were ferroalloys with 15,000 tons worth $25.15 million, chrome with 139,000 tons worth $20.26 million, molybdenum with 2,000 tons worth $18.90 million, precious mineral (gold, silver etc.) with less than 1,000 tons worth $11.93 million, coal with 130,000 tons worth $11.27 million, nickel with less than 1,000 tons worth $130,000, titanium under 1,000 tons worth $110,000, mica with less than 1,000 tons worth $90,000, antimony with less than 1,000 tons worth $30,000, while “other minerals” totaled 2.32 million tons worth $208.39 million.

Semi-finished steel had the largest share among Iran's imports of mineral commodities in H1, as 1.16 million tons worth $758.13 million were imported, down 34% and 17% in tonnage and value respectively YOY.

Steel products followed with 286,000 tons worth $370.04 million, down 3% and 15% YOY.

Aluminum came next with 358,000 tons worth $228.16 million, up 95% and 44% YOY.

Major Iranian mining companies produced 169.17 million tons of different mineral products in H1, registering an 8.45% growth YOY, according to IMIDRO.

The miners’ performance in the sixth month of the Iranian year ending Sept. 22 indicated an 8.99% YOY rise to 26.62 million tons.

Iran is home to 68 types of minerals with more than 37 billion tons of proven reserves and 57 billion tons of potential reserves.

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 possesses more than 7% of global mineral reserves.

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