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Iran's Mining and Metal Industry

Iran’s Mining and Metal Industry

This Expo Insightry report provides a snapshot of Iran’s Mining and Metal in four sections:Section One – Iran Macroeconomy at a Glance

  • Iran’s GDP composition shifted in 2011-2022: Services surged (CAGR 4%), Agriculture held steady (2%), Industries dipped (1%), while Oil & Gas contracted (-1%)

Section Two – Mining and Basic Metal Figures

  • In 2021, over 130K Iranian mining enterprises with 130K employees generated $11.9 billion in production and $9.5 billion in added value
  • Mining is progressed from 2020 to 2021, with a 1% growth in the number of mines, 5% in employees, 13% in the value of production, and 1% in investment
  • While investment at the end of 2021 remained similar to its level in 2012, the value added during this period has more than tripled
  • In the mineral section, we have reviewed three products: iron ore, copper ore, and aluminum (bauxite)
  • Annual production of copper ore, iron ore, and aluminum (bauxite) have increased by 13%, 11% and 0% of CAGR in 2012 to 2021
  • The production value of copper ore is very close to its value added, indicating high profitability in this industry
  • While production, value, and value added of iron ore extraction have consistently increased from 2015 to 2021, investment has experienced a decline during this period
  • Despite the consistent level of aluminum production in Iran from 2012 to 2021, the value of production and the value added in this industry have decreased
  • Based on the calculations performed, it is estimated that the remaining years for iron reserves are 22 years, aluminum 35 years, and copper 56 years
  • Assuming an equal initial investment, investing in the copper mining industry is more sustainable and cost-effective than the iron ore industry
  • Basic metals production, accounting for 9% of all enterprises, 10% of industrial labor, 20% of production, and 29% of investment in 2020
  • The added value and production value of basic metals have approximately tripled during the period from 2011 to 2020
  • Investment in basic metals production has grown by 51% CAGR during the period from 2011 to 2020

Section Three – Mining and Basic Metal Exports

  • Iran boosted export value of mineral and metal by a 9% CAGR in 2018-2022, while export volume shrank by 4%
  • Considering the discrepancy between the volume and value shares of mineral and metal export destinations in 2022, Türkiye and China appear to be more attractive destinations than Iraq

Section Four – Mining and Basic Metal Top Players

  • According to IMI-500 (2022 version) the four top players in mine and metal industry are Mobarakeh, National Iranian Copper, Golgohar, and Khouzestan

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