TEHRAN – Iranian Mines and Mining Industries Development and Renovation Organization has reported that a total of 30.3 million tons of minerals and mining industry products worth $7.86 billion were exported from Iran in the first eight months of the current Iranian year (March 21-Nov. 21) registering a 1% rise in tonnage, but a 5% fall in value compared with the similar period of last year.
Steel manufacturing chain products (iron ore, semi-finished and finished steel) topped the list of exports in terms of value with an aggregate of $3.71 billion, followed by copper and related products worth $981.01 million, and aluminum products worth $781.21 million.
In terms of tonnage, cement and clinker topped the list with 8.87 million tons. Steel came next with 6.74 million tons and was followed by pellet with 2.62 million tons.
Exports of minerals and metals have boost Iran’s hard currency revenues while the country has been able to create tens of thousands of new jobs for its youth population in recent years.
Iran is ranked among 15 major mineral-rich countries, holding some 68 types of minerals, even though the country’s mineral potential is not fully mapped.
Barring the oil and gas sector, the extractives industry is underdeveloped, but Iran is trying to diversify its economy and mining is integral to the effort.
Iran has introduced major programs to boost activity in its mining and metals sector since 2018 when its sales of crude oil came under American sanctions.
The pivotal role of the manufacturing sector in Iran’s economic resilience has not escaped the attention of U.S. administrations. Washington has imposed sanctions targeting Iran’s construction, manufacturing, textiles, mining, aluminum, copper, iron and steel industries.
The coercive measures affect the private sector and millions of blue-collar workers in Iranian factories, disproving the U.S. government’s claim that the sanctions target the state and not ordinary people.