Iran’s monthly Iron ore output surges by 38 percent YoY
Date
5/26/2024 9:16:11 AM
(MENAFN) Iron ore production by Iran’s major mining companies surged by 38 percent during the first month of the current Iranian calendar year (March 19 to April 19) compared to the same period last year.
Data from the Iranian Mines and Mining Industries Development and Renovation Organization (IMIDRO) revealed that the country’s 14 leading mining firms collectively produced 2.643 million tons of iron ore in the initial month of the current year. This marked a substantial increase from the 1.918 million tons produced during the corresponding month of the previous year.
In total, these major mining companies contributed to a total mineral production of 7.467 million tons during the same period, reflecting a notable rise from the 5.33 million tons recorded in the previous year's first month.
Moreover, these large mining entities generated over 4.602 million tons of iron ore concentrate in the opening month of the current Iranian year, representing a slight decrease of approximately one percent compared to the corresponding period last year.
Alireza Shahidi, the head of the Geological Survey and Mineral Exploration of Iran (GSI), highlighted that Iran possesses substantial iron ore reserves, currently estimated at 3.8 billion tons. Shahidi emphasized that this reserve volume is sufficient to fulfill the country’s needs for the next 14 to 15 years, although he noted that increased consumption could potentially shorten this timeframe.
With an abundance of 81 different types of minerals, Iran ranks among the top 10 mineral-rich countries globally. Consequently, the Iranian government has prioritized several initiatives aimed at fostering the growth and development of its mining sector.
MENAFN26052024000045015839ID1108258633
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.