TEHRAN- Iran’s minerals and mining industries exports exceeded $7 billion in the previous Iranian calendar year 1395 (March 2016-March 2017), according to the latest data released by the Customs Administration.

The exports rose by 38 percent and 17 percent in terms of weight and value, respectively, IRNA reported.

More than 57.6 million tons of commodities including steel, copper, aluminum, cement, lead, zinc, coal, coke, chromium, molybdenum, titanium, mica, nickel, and antimony were exported during the past year.

Minerals and mining exports accounted for 16 percent of the country’s total foreign trade in terms of value and 44 percent of the country’s total trade in terms of weight. 

Meanwhile, the country imported over 5.8 million tons of mining and mineral products worth $3.7 billion to register 26 percent and 17 percent fall in weight and value, respectively, compared to the preceding year.

Iran possesses 7 percent of the world’s total mineral reserves worth about $700 billion. 

The country is one of the 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 ore, which are tempting international investors after the lifting of Western sanctions in January 2016.

EF/MA