TEHRAN – Iranian Mines and Mining Industries Development and Renovation Organization (IMIDRO) has reported that the exports of Iran’s mining industries exceeded $9 billion in the first nine months of the Iranian calendar.
The IMIDRO reported that the exports of Iran’s mining industries exceeded over $9.9 billion from March 21 to December 21.
The report added that 35.5 tons of mineral products were exported during that period.
Exports of the products have surged by 5% in weight compared with last year’s corresponding period, it noted.
According to IMIDRO, most exports were related to the steel chain and exports of steel products worth more than $4.8 billion.
Increased mining exports have diversified Iran’s income streams while enabling the country to boost economic growth and create more jobs for its youth population.
The surge in activity in Iran’s mining and metals sector has come despite the fact that the United States imposed severe sanctions on the country’s trade of metals in 2019.
Latest government figures show Iran holds around seven percent of the world’s mineral reserves at an estimated value of $770 billion.
A mining export milestone of around 122 million mt reported for Iran over the calendar year to late March came as the country’s total output of mining products reached around 617 million mt over the same period.