Mineral Exports Earn $6.6 Billion

EghtesadOnline: Iran’s export of mineral products during the first 11 months of last fiscal year (March 20-Feb. 18) reached 48.8 million tons worth $6.62 billion, latest data released by the Iranian Mines and Mining Industries Development and Renovation Organization show.

News ID: ۷۸۶۲۹۸

07 April 2021

This marked a 24% and 18% decline in total volume and value year-on-year, respectively.

According to the new report released by IMIDRO, steel topped the list of exports in terms of value with $3.5 billion and was followed by copper with $848 million and cement with $684.46 million.

In terms of tonnage, cement had the largest share with 21.5 million tons, followed by steel with 8.55 million tons.

According to IMIDRO’s data, alumina powder exports saw the biggest jump in terms of value (327% YOY) to reach $1.65 million, followed by aluminum products with $271.8 million (up 143% YOY) and ferromolybdenum with $13.2 million (up 34% YOY).

The sharpest fall in export value was recorded for pellet (down 96% YOY to reach $9.4 million) and iron ore (down 90% YOY to reach $28.3 million).

In terms of tonnage, aluminum products posted the biggest growth (155% YOY) to reach 148,000 tons, followed by alumina powder (up 147% YOY to reach 800 tons) and zinc products (up 55% YOY to reach 189,000 tons).

Precious metals and minerals (such as gold and silver) had the sharpest decline in tonnage (down 98% YOY).

The IMIDRO report further shows that import of mineral products stood at 3.76 million tons worth $3.03 billion during the same period. The numbers show a 14% increase in volume and a 5% growth in value compared with the same period of last year.

Steel also topped the list of mineral imports in terms of value with $1.23 billion. It was followed by aluminum products with $266 million worth of imports. Coal and coke with $256 million came next.

In terms of tonnage, steel topped the list with 1.08 million tons, followed by coal and coke with 1.08 million tons, alumina powder with 301,000 tons and aluminum products with 168,000 tons.

The value of precious metals imports saw the biggest jump (76% YOY) to reach $900,000. It was followed by steel with $1.23 billion (up 41% YOY).

The sharpest fall in import value was recorded for lead (down 96% YOY to reach $600,000).

TSE-Listed Mining Firms' Sales Reach $11b

Another IMIDRO report on the sales of 74 heavyweight Tehran Stock Exchange-listed mining and mineral companies shows the aggregate sales volume of the firms under review stood at 2.76 quadrillion rials ($11 billion) during the same 11 months under review to register a 93% year-on-year rise.

Their sales volume during the 11th month of last fiscal year (Jan. 20- Feb. 18) stood at 365.03 trillion rials ($1.4 billion) to register a 7% increase compared to the previous month and a 156% rise compared to last year's similar month.

Mobarakeh Steel Company registered the highest sale with 662.93 trillion rials ($2.6 billion), up 81% year-on-year. The company’s sales during the 11th month of the year stood at 83.65 trillion rials ($334 million), indicating a 120% year-on-year increase and a 1% decrease month-on-month.

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.

MSC was followed by the Iranian National Copper Industries Company with 346.69 trillion rials ($1.38 billion) of sales during the 11-month period, up by 72% YOY. The company's sales stood at 34.78 trillion rials ($139 million) during the 11th month of the year, up 300% YOY and 8% MOM.

NICICO is a leading copper producer in the MENA region and its mines hold close to 14% of Asia’s copper deposits and about 3% of global reserves.

Khuzesan Steel Company came third as its sales totaled 268.66 trillion rials ($1.07 billion) in 11 months, up 91% YOY. Its sales volume during the 11th month of the year stood at 26.26 trillion rials ($105 million), up 97% YOY and down 22% MOM.

The steelmaker, located in the southwestern Khuzestan Province, is the biggest exporter of steel of Iran.

Golgohar Mining and Industrial Company sold 254.17 trillion rials ($1.01 billion) worth of mineral products in 11 months, witnessing a 121% rise YOY. The company's sales stood at 34.14 trillion rials ($136 million) in the 11th month of the year, up 273% and 23% YOY and MOM respectively.

Chadormalu Mining and Industrial Company followed with 223.02 trillion rials ($892 million) worth of sales in the period, up 151% YOY. The company sold 39.14 trillion rials ($156 million) in the 11th month to register a 285% rise YOY and a 42% increase MOM.

Standing at sixth place was Esfahan Steel Company (ESCO) with 175.75 trillion rials ($703 million) worth of sales in 11 months, indicating an 81% growth YOY. ESCO registered a 115% YOY and a 23% MOM rise in its 11th month’s sales (23.9 trillion rials or $95 million).

With 117.9 trillion rials ($471 million) worth of sales in 11 months, South Kaveh Steel Company was next to register a 144% rise YOY. In the 11th month of the year, the company’s sales reached 18.47 trillion rials ($73 million), up 319% YOY and 13% MOM.

Hormozgan Steel Company’s sales in the year under review reached 108.79 trillion rials ($435 million), up 99% YOY. The company’s sales amounted to 16.05 trillion rials ($64 million) in the 11th month, up 174% YOY.

60b Tons of Reserves

Iran’s mineral reserves currently stand at around 60 billion tons, more than half of which are proven.

Iran is home to 68 types of minerals.

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.