Revenues of Iranian TSE-Listed Mining Firms Double to $13.4 Billion

EghtesadOnline: The Iranian Mines and Mining Industries Development and Renovation Organization has released a new report on the sales of 74 heavyweight Tehran Stock Exchange-listed mining and mineral companies.

News ID: ۷۸۶۳۵۸

17 April 2021

According to the report, the aggregate sales volume of firms under review stood at 3.22 quadrillion rials ($13.4 billion) during the last Iranian year (ended March 20, 2021) to register a 105% rise compared to the year before.

Their sales volume during the 12th month of the year (Feb. 19-March 20) stood at 446.1 trillion rials ($1.8 billion) to register a 22% increase compared to the previous month and a 203% rise compared to the previous year's similar month.

Mobarakeh Steel Company registered the highest sales volume among the firms during the period with 774.6 trillion rials ($3.22 billion), up 98% year-on-year. The company’s sales during the 12th month of the year stood at 11.1 trillion rials ($46.2 million), indicating a 336% YOY increase and a 33% month-over-month decrease.

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 419.4 trillion rials ($1.7 billion) of sales during the year, up by 87% YOY. The company's sales stood at 72.7 trillion rials ($302.9 million) during the 12th month of the year, up 226% YOY and 109% 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.

Khuzestan Steel Company came third as its sales totaled 306.4 trillion rials ($1.27 billion) in 12 months, up 93% YOY. Its sales volume during the 12th month of the year stood at 37.8 trillion rials ($157.5 million), up 114% YOY and down 44% MOM.

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

Golgohar Mining and Industrial Company sold 292.9 trillion rials ($1.22 billion) worth of mineral products in 12 months, witnessing a 114% rise YOY. The company's sales stood at 27 trillion rials ($112.5 million) in the 12th month of the year, up 133% YOY and down 19% MOM.

Chadormalu Mining and Industrial Company came next with 255.5 trillion rials ($1.06 million) worth of sales in the said period, up 164% YOY. The company sold 32.2 trillion rials ($134.1 million) in the 12th month to register a 314% rise YOY and a 18% increase MOM.

Standing in the sixth place was Esfahan Steel Company (ESCO) with 200.3 trillion rials ($834.5 million) worth of sales in 12 months, indicating an 84% growth YOY. ESCO registered a 117% YOY and a 3% MOM rise in its 12th-month sales (24.6 trillion rials or $102.5 million).

With 134.4 trillion rials ($560 million) worth of sales last year, South Kaveh Steel Company was next to register a 120% rise YOY. In the 12th month of the year, the company’s sales reached 25.6 trillion rials ($106.6 million), up 305% YOY and 60% MOM.

Hormozgan Steel Company’s sales in the year under review reached 134.1 trillion rials ($558.7 million), up 153% YOY. The company’s sales amounted to 16.2 trillion rials ($67.5 million) in the 12th month, up 241% YOY.