TEHRAN (Iran News) In an interview with ILNA, Bahraman expressed concern over the declining contribution of Iran’s industry and mining sector to the country’s non-oil Gross Domestic Product (GDP). According to published data, the sector’s share dropped from 26.3% in 2020 to 24.5% in 2023, and further declined to below 24% in the first half of 2024.

Despite a 5.3% growth in mining and industrial activities — including crude oil and natural gas extraction — in the first half of 2024, Bahraman emphasized that the country still faces significant structural challenges.

Bahraman underlined the mining sector’s crucial role in the national economy, stating that in 2023, mineral and mining companies listed on Iran’s stock exchange generated $10.6 billion in revenue, accounting for 19% of total listed company sales. Nevertheless, the net value of Iran’s mineral production stood at just $3.2 billion, ranking Iran 21st globally.

In terms of exports, Iran shipped $12.289 billion worth of minerals during the first 11 months of 2023, comprising 28% of the country’s total exports. The primary exports included steel, aluminum, and copper. By the first 11 months of 2024, the volume of mining exports reached 58.58 million tons valued at $12.56 billion, showing a modest increase of 0.4% in volume and 1.2% in value compared to the previous year. Over half of this came from the steel, aluminum, and copper value chains.

Highlighting the global shift toward renewable energy, Bahraman noted a surge in demand for critical minerals such as lithium, nickel, cobalt, graphite, and rare earth elements — essential components for batteries, solar panels, and electric vehicles. This trend is driving countries to rethink their strategies to secure stable supplies of these key resources.

He stressed that overseas mining, or “transnational mining,” has become a strategic tool globally. Nations like the U.S., China, EU members, Japan, Australia, and Norway are actively investing in foreign mines, securing supply chains through ownership, long-term contracts, and strategic partnerships.

“Over 40% of global lithium mines are controlled by U.S. companies. American and European firms also hold major stakes in Chilean copper mines. China dominates cobalt extraction in the Democratic Republic of Congo and leads globally in mineral refining,” Bahraman explained. He added that Japan and the U.S. signed agreements in 2023 and 2024 to ensure sustainable imports of key minerals such as cobalt, graphite, lithium, manganese, and nickel.

When asked about Iran’s role in overseas mining, Bahraman admitted the country’s negligible presence abroad. “Iran lacks effective ownership or participation in foreign mining operations. Our companies are mostly limited to domestic resources,” he said. This absence, he argued, reveals deeper systemic issues, including a lack of bilateral or multilateral agreements with resource-rich nations.

“In contrast, China not only leads in extraction but also dominates refining and battery production. Australia and Canada, through smart resource management and foreign investment attraction, play vital roles in global supply,” Bahraman noted.

He warned that while countries like the UAE and Saudi Arabia are actively investing in African and Latin American mining projects, Iran remains largely a bystander.

Bahraman called Iran’s weak position in overseas mining a strategic vulnerability, particularly in today’s global context. To address this, he proposed several measures: Creating a national roadmap for foreign investment in critical mineral mines; Forming consortia of Iranian mining companies for international ventures in Africa, Latin America, and Central Asia; Signing long-term agreements with key mineral-rich nations; Expanding domestic refining capacity to reduce dependence on mineral imports.

Bahraman also commented on Saudi Arabia’s aggressive mining strategy aimed at transforming the kingdom into the Middle East’s mining hub. Riyadh is negotiating with the United States to sign cooperation agreements in mining and mineral resource development.

With extensive government support, major investments, and technology partnerships, Saudi Arabia’s plans appear both ambitious and achievable, he said.

“Iran has immense potential in the mining and mineral industries,” Bahraman concluded. “However, to fully leverage these assets, we must invest in modern technologies, infrastructure, and international cooperation. Otherwise, countries like Saudi Arabia will take the lead — and Iran will be left behind unless it adopts and implements long-term strategic plans.”

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TEHRAN (Iran News) In a meeting between IMIDRO and Zarubezhgeologia, Aghajanlou stated that the committee will oversee the execution of the cooperation document’s programs, with Iranian and Russian representatives managing implementation while the agreement’s supervisory and decision-making bodies remain in place.

“The historical ties between Iran and Russia in mining cooperation have a proven track record, leading to the activation of highly productive mines in Iran,” Aghajanlou remarked. He highlighted past exchanges of expertise in exploration, coal, and mine safety between the two nations, expressing hope for continued collaboration.

The deputy minister of industry, mine, and trade added that final revisions to the signed mining and underground exploration agreement should be completed to move toward practical implementation. He noted that both countries possess significant experience in the steel supply chain and other metal products. For instance, Iran’s PERED direct reduction technology has emerged as a competitor to the MIDREX method, showcasing Iran’s growing capacity to execute related projects—expertise that Russia could tap into.

Aghajanlou further emphasized that, under the memorandum of understanding, Iran’s Mineral Production and Supply Company and its Russian counterpart should take steps to transfer knowledge on deep reserve exploration and the design and extraction of underground mines. He also pledged to provide the necessary facilities and equipment in Iran for training programs in this field.

At the same meeting, Alexey Destyatkin, CEO of Zarubezhgeologia, referenced the recent strategic document signed by the presidents of Iran and Russia, which prioritizes cooperation in geology, mining, and mineral industries. Destyatkin, who met with Iran’s Minister of Industry, Mine, and Trade during a visit to the third Eurasia Trade Exhibition currently underway, said the minister underscored the importance of expanding mining ties.

“We are committed to implementing the agreement,” Destyatkin said. “During our visit to Anomaly 21 in Yazd with colleagues, we outlined a clear path for collaboration.”

He affirmed Russia’s willingness to transfer technology and train Iranian specialists in geology, geophysics, and related fields. Destyatkin also mentioned site visits to mining areas in Zanjan and Jiroft, proposing on-the-ground training courses covering topics like airborne geophysical technology.

The joint committee marks a significant step toward deepening Iran-Russia ties in the mining sector, leveraging their shared expertise to unlock new opportunities.

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The exports from the mentioned sector in the said period also increased by 37 percent in terms of weight, IRNA reported.

Iran had exported 26.03 million tons of minerals and mining products valued at $6.9 billion in the previous year’s first seven months.

Steel and steel products were the top exported commodities in this sector, followed by copper and its byproducts, aluminum, and related items, as well as other downstream products.

Having 81 different types of minerals, Iran is one of the top 10 mineral-rich countries across the globe. In this regard, the Iranian government has been seriously pursuing several programs to promote the mining sector as a major contributor to the country’s economic growth.

Iran’s proven iron ore reserves are 2.7 billion tons, while the country’s copper reserves are 2.6 billion tons. The country also has 11 million tons of zinc reserves.

The total proven reserves of Iran’s mines are estimated at about 60 billion tons, which is expected to reach more than 100 billion tons with the implementation of the Industry, Mining, and Trade Ministry’s exploration programs over 500,000 square kilometers of new mineral zones.

Despite the country’s huge potential in this area, due to some issues like the lack of necessary machinery and equipment and the lack of access to financial resources and foreign investment because of the U.S. sanctions, the Iranian mining sector has been struggling to operate at its maximum capacity over the past few years.

So, the government programs for promoting this industry are mainly focused on relying on domestic sources for helping the mining sector overcome its current problems and hit its ideal targets.

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As reported, Ali-Abadi was accompanied by his deputy for machinery and equipment industries, Mohammad Mousavi, his deputy for mines and materials processing, Reza Mohtashami-Pour, as well as his deputy Mehdi Zeyghami, who is also the head of Iran’s Trade Promotion Organization (TPO), in his trip to Oman.

Aiming to expand economic ties, Iran and Oman signed four cooperation documents in various areas including energy, investment, and free zones during the official visit of Oman’s Sultan Haitham bin Tariq al-Said to Tehran in late May.

The document on the energy sector was signed by Iran’s Oil Minister Javad Oji and Omani Minister of Energy and Minerals Salim bin Nasser al-Aufi.

The two countries also signed three other documents to cooperate in the economic, investment, and free zones sectors.

Iranian Finance and Economic Affairs Minister Ehsan Khandouzi and Secretary of Iran’s Free Zones High Council Hojatollah Abdolmaleki signed the mentioned documents with the ministers of economy and commerce of Oman.

Mentioning the prospects of economic relations between the two countries in the future, Khandouzi said: “Considering that after the visit of President Raisi to Muscat last year, the volume of business exchanges between Iran and Oman increased significantly, the evidence indicates that the coming months and next year will also witness an increase in trade relations between the two countries.”

“Our agreement with our Omani counterparts is for the relations between the two countries to enter a phase of joint investments in addition to completing the current trade ties, which will create a much more lasting economic link in the long term,” Khandouzi noted.

Meanwhile, in mid-July, the head of the Iran Chamber of Commerce, Industries, Mines and Agriculture (ICCIMA) called for promoting joint investment between the private sectors of Iran and Oman in order to boost the trade exchanges between the two countries.

Hossein Selahvarzi made the remarks in a meeting with Omani Ambassador to Tehran Ibrahim bin Ahmed Almuaini.

During the meeting, Selahvarzi expressed the readiness of the private sectors of Iran and Oman for joint investments, as well as, using transit capacities of the two countries for re-exports if the necessary infrastructure is provided by the governments of the two countries.

Referring to the 40 percent growth of trade exchanges between the two countries in the previous year, the official said: “Although this positive trend is significant, the ICCIMA is trying to increase the volume of exchanges as much as possible.”

He pointed out that the Joint Economic Committee meeting of Iran and Oman will soon be held in Tehran, noting that the ICCIMA is ready to discuss ways of facilitating the trade between the private sectors of the two countries in the mentioned meeting.

“The main obstacles facing the cooperation of the two countries’ private sectors are related to banking transactions and transportation,” Selahvarzi added.

He further mentioned Oman’s long-term development plan for 2040 and said: “The Iran chamber is working on an action plan for the active participation of the private sectors of the two countries in this development plan.”

Welcoming the remarks of the ICCIMA head, Almuaini said: “The Omani government regularly encourages the country’s private sector to increase exchanges with Iran and we are trying to facilitate such exchanges and remove obstacles.”

“Until five years ago, the exchanges between the two countries did not exceed $200 million dollars, but now it has increased to more than two billion dollars. Of course, although the progress of economic relations between the two countries is significant, we should not be satisfied with this level,” the envoy added.

Also, in early May, a Joint Iran-Oman Business Forum was held at the place of ICCIMA in a bid to boost trade exchange between the Islamic Republic of Iran and the Sultanate of Oman.

The forum aimed at consolidating bilateral business relations, conducting strategic partnerships to augment the volume of investments and business activity, and accessing new economic fields.

Several B2B meetings were held during the forum between Omani and Iranian businesspeople. The meetings targeted striking business and investment deals. As many as 250 Iranian firms took part in the event.

Prior to the forum, ICCIMA former Head Gholam-Hossein Shafeie met with his Omani counterpart to discuss avenues of mutual cooperation between the two countries’ private sectors.

In this meeting, while emphasizing the need to remove trade obstacles, Shafeie said: “Attention should be paid to multilateral cooperation and joint investments so that the markets of the two countries can take advantage of each other’s business opportunities in any situation.”

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Shafeie made the remarks in a meeting with Ms. Khamis at ICCIMA. “It is possible for Iranian companies to invest in the fields of technical and engineering services, agricultural machinery, and mining activities in Tanzania,” Iranian official said.

The ICCIMA head considered the development of relations with African countries as a main strategy of the Iranian government and said: “Despite this special view, unfortunately, the level of Iran’s relations with this region is unfavorable and should be improved.”

He pointed to the strategic position of Tanzania in Africa which is a gateway to access to East Africa. He said that since Tanzania’s economy is agriculture-centered, Iran and Tanzania can cooperate in this field, and then pointed to Iran’s capabilities in mining technology and due to rich mines in Tanzania, there is possibility for cooperation between the two countries in this field.

Further in the meeting, Khamis, who visited Iran on top of a trade delegation, stated that the purpose of her trip to Iran was to consult with Iranian officials and to identify areas for economic cooperation and investment between the two countries.

She noted that her accompanying delegation is seeking to sign memorandums and cooperation agreements with their Iranian counterparts.

“Due to the progress that Iran has made in the field of agricultural machinery, we are interested in cooperation in this area. Of course, in the meantime, we will follow up on the development of relations in other areas if possible,” she explained.

Then in the meeting both sides called for the launch of Iran-Tanzania Joint Chamber, launch of Embassy of Tanzania in Tehran, eliminating or reducing preferential tariffs, signing MoU on banking cooperation and easing visa process for traders of both countries. Then it was decided ICCIMA and TanTrade to work together for preparing a document on cooperation.

As announced by the vice president of Iran and Africa Merchants Club Ruhollah Latifi, the value of trade between Iran and Africa rose two percent in the past Iranian calendar year 1401 (ended on March 20).

He put Iran-Africa annual trade at 2.545 million tons worth $1.278 billion.

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Speaking in a meeting, Fakhreddin Amerian said that the economic cooperation between Iran and Brazil is booming and the launch of the office of the chamber in Brazil and getting license for the trade center of Iranians in Brazil are of the first actions of the chamber which can accelerate the trade between the two countries.

He added that soon cooperation between the two countries in different fields will increase and cooperation in the mining sector is one of them.

He also announced the possibility of launching a direct shipping line between the two countries for the development of mutual non-oil trade.

Amerian said: “It is expected that the Islamic Republic Shipping Lines (IRISL) will help develop this line with support and cooperation.”

He also called on the responsible government entities to prepare a list of the commodities that can be bartered or exchanged between the two countries.

“The Iran-Brazil Joint Chamber [of Commerce] considers itself as an agent for the implementation of the Islamic Republic’s economic diplomacy goals, and therefore, with the establishment of a representative office in Brazil and obtaining the license to set up an Iranian business center in the country, we are the first joint chamber that has a permanent base in the target country,” the official said.

According to Amerian, Brazil is one of the biggest exporters of livestock inputs to Iran, and launching the mentioned shipping line could offer an opportunity to balance the trade between the two sides.

He put the value of trade between the two countries at six billion dollars in the previous year, saying that the imports from Brazil were double the value of Iran’s exports to the country in the mentioned year.

Meanwhile in the meeting, chairman of Agriculture of Commission of Majlis Mr. Mohammad Javad Askari pointed to the existing capacities for broadening trade between Iran and Brazil based on the agro products, adding that the two countries have many capacities for cooperation like in agriculture, medical, industry and tourism and expressed hope both countries can use these capacities in line with their interests.

He went on to say that Majlis will not spare any support for broadening trade between Iran and Brazil.

Then Deputy Agriculture Minister Mohammad Mehdi Boroumandi, for his part, pointed to the plans of the ministry for exporting agro products, adding that soon some of Iranian agro products and fruits will be added to the basket of exports to Brazil.

Then First Vice-Chairman of Iran Chamber of Commerce, Industry, Mine and Agriculture Mr. Hossein Salahvarzi thanked the performance of the Iran-Brazil Joint Chamber of Commerce and said that the private sector should itself be decision-maker in developing international trade and chambers of commerce can play an important role in this regard.

He went on to say that Iranian experts and industrialists in the fields of infrastructures and technical, engineering services, mining, medicines, medical equipment and agro machineries have many thing to say and the joint chamber can provide required ground for using these capacities for helping promotion of trade.

Then Head of Iran Mine House Mr. Mohammad Reza Bahrami pointed to recent visit of a mining delegation to Brazil, adding that Brazil has one of the biggest mining reserves of the world and there is a good opportunity for bilateral cooperation and investment between Iran and Brazil.

He said that during the visit to Brazil the first mining delegation had opportunity to talk with the Brazilians and this is a good prelude for cooperation between Iran and Brazil in mining sector.

Bahrami also said that development and reinforcement of logistic and transportation is important in broadening mining trade and it helped the private sector to enter this field.

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The exports amounted to 42.214 million tons in weight, showing a 9.5 percent rise compared to the same period last year, IRNA reported.

Steel chain and related products had the biggest share of exports in the mentioned nine months with 55.6 percent, equaling $5.28 billion of the total value of exports.

Copper products and other minerals were in the second and third places with $1.409 billion and $651.33 million shares of the exports, respectively.

In the meantime, the exports of aluminum products registered the biggest growth among other mining products, with $541.57 million of exports and a 212-percent growth year on year.

During the period under review, 3.098 million tons of mining products worth $2.691 billion were also imported into the country, indicating an 11.4 percent and 0.8 percent rise in terms of value and weight, respectively.

Steel and steel products were the top imported items in the mentioned time span with $916.3 million worth of imports.

Having 81 different types of minerals, including the world’s largest copper, zinc and iron reserves, Iran is one of the top 10 mineral-rich countries across the globe. In this regard, the Iranian government has been seriously pursuing several programs for promoting the mining sector as a major contributor to the country’s economic growth.

Iran’s proven iron ore reserves are 2.7 billion tons (about 0.8 of the world’s total reserves), while the country’s copper reserves are 2.6 billion tons (about 0.4 of the world’s reserves). The country also has 11 million tons of zinc reserves (about four percent of the world’s total reserves).

The total proven reserves of Iran’s mines are estimated at about 60 billion tons, which is expected to reach more than 100 billion tons with the implementation of the Industry, Mining, and Trade Ministry’s exploration programs over 500,000 square kilometers of new mineral zones.

Despite the country’s huge potential in this area, due to some issues like the lack of necessary machinery and equipment and the lack of access to financial resources and foreign investment because of the U.S. sanctions, the Iranian mining sector has been struggling to operate at its maximum capacity over the past few years.

So, the government programs for promoting this industry are mainly focused on relying on domestic sources for helping the mining sector overcome its current problems and hit its ideal targets.

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The official said that the mentioned project will create 4,700 direct and 18,600 indirect jobs.

In line with Iran’s major plans for distancing the country’s economy from oil and moving toward a resilient, oil-free economy, the mining sector has become one of the major areas of focus in recent years, since the country is one of the world’s top 10 mineral-rich countries where 68 types of minerals have been identified so far, including the world’s largest deposits of copper, zinc, and iron.

Expansion and exploitation of these huge sources of income have become a top priority for the government in recent years, and various programs have been defined for the improvement of this industry.

Reviving idle small mines, increasing the tariffs on the exports of some raw minerals, defining new exploration projects, signing memorandums of understanding with domestic and foreign manufacturers for the renovation of the country’s mining equipment and machinery, and allocation of funds for the completion of semi-finished projects in this sector can be mentioned as some of the programs introduced by the government for the development of the country’s mining sector.

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The meeting was attended by senior officials from the two sides including Serbia’s deputy mining and energy minister, Iranian deputy industry minister, and the deputy head of Iran’s Renewable Energy and Energy Efficiency Organization (known as SATBA), the portal of the Energy Ministry known as Paven reported.

The attendees of the meeting stressed the need to strengthen relations between the two countries in the fields of energy and mining. It was also decided that the two sides will continue talks in three areas of mining, electricity, and renewable energy, along with the oil and gas sector to expand cooperation between the two countries.

Back in March, Iran’s Ambassador to Belgrade Rashid Hassanpour and Serbia’s Minister of Mining and Energy Zorana Mihajlovic held talks on ways to develop cooperation in the fields of energy and mineral sector.

The two officials highlighted good relations between Tehran and Belgrade and called for enhanced cooperation.

The Serbian minister underlined that formation of an energy and mining working group under the framework of the two countries’ Joint Economic Committee as an important step toward the development of mutual cooperation.

Referring to Iran’s great capacities in the energy and mineral sectors, she said that Serbia is willing to develop effective and sustainable cooperation with Iran in those fields.

The Serbian minister expressed hope that sanctions would be lifted to prepare the grounds for cooperation.

The Iranian ambassador, for his part, said Tehran attaches great importance to its ties with Belgrade.

Pointing to the mutual agreement on the formation of the energy and mining working group, the ambassador hoped that this mechanism would help develop economic cooperation.

“The two countries have tried to support the development of cooperation in the sanctions [era.]”, Hassanpour said.

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