Iran mine industry exports to hit $10b
Iran mine industry exports to hit $10b

TEHRAN (Iran News) – Iran mine industry is expected to increase exports up to $10 billion of minerals and mining industry products by the end of the current Iranian year (March 19, 2020). “Iran mine sector will not only meet the needs of the country’s industrial plants and construction industry, but they will also increase […]

TEHRAN (Iran News) – Iran mine industry is expected to increase exports up to $10 billion of minerals and mining industry products by the end of the current Iranian year (March 19, 2020).

“Iran mine sector will not only meet the needs of the country’s industrial plants and construction industry, but they will also increase its exports to some $9-$10 billion worth of minerals and other products by the end of the year,” Deputy Industry, Mining and Trade Minister Jafar Serqini said on the sidelines of a gathering of the country’s supreme council of mining in the city of Zanjan, IRNA reported.

Back in November, the ministry announced that the value of Iranian mineral exports increased by 11.7 percent in the first six months of the current Iranian calendar year (March 21-September 22), compared to the figure for last year’s similar period.

Based on the data released by the ministry, a total of 15.8 million tons of minerals and mining products worth $3.891 billion were exported to other countries in the first half of the current year.

The data also indicated that nearly 40 percent of the total export target for the country’s mining sector had been achieved.

Steel ingot was the top exported product in the sector with $1.198 billion worth of exports, followed by iron ore and iron ore concentrate with $617 million in value, steel products worth $575 million, and cathode copper valued at $262 million, as well as rolled steel products at $230 million.

China, Iraq, Indonesia, Ghana, Pakistan, Turkey, Afghanistan, the UAE, Oman, and Thailand were the major importers of minerals and mining industry products from Iran in the six months.

The value of mineral exports to China reached $1.2 billion, while Iraq imported $454 million of such Iranian products; Indonesia’s imports stood at $422 million, Thailand at $302 million, and Turkey at $296 million.