TEHRAN – Iran’s industry, mining, and trade minister said the country’s aluminum production is expected to be doubled after the inauguration of the country’s biggest aluminum production complex in the central Fars province, IRIB reported.

“With this unit going operational, the county’s aluminum production will rise 100 percent,” Reza Rahmani said in the inauguration ceremony of the mentioned complex.

The official put the value of the Iranian mining industry’s production at about $22 billion, saying that the country is relatively self-sufficient in minerals and a great deal is also exported every year.

He went on underlying the country’s capacities in the sector, saying that Iran is ranked 18th among the world’s top aluminum producers, and with this new plant going operational the country will climb four places to stand at 14th place.

“In steel production, we have reached the tenth place in the world, in the past six years, overpassing countries like France and Italy”, he said, adding: “In copper production, we are ranked 15th in the world, and we already have it on the agenda to reach the 12th place in [the Iranian calendar year of] 1400 (March 2021-March 2022).”

South Aluminum Corporation (SALCO) was inaugurated on Wednesday by Iranian president Hassan Rouhani during a ceremony via video conference.

The project has an output capacity of 300,000 tons per year and was launched with an investment of around $1.2 billion.

SALCO is jointly owned by Iranian Mines and Mining Industries Development and Renovation Organization (IMIDRO), and Ghadir Investment Company, where Iran’s Social Security Organization and pension funds related to the armed forces are the main shareholders.

Iran’s major aluminum producers produced 275,716 tons of aluminum ingots in the past Iranian calendar year (ended on March 19).

As the world’s 18th aluminum producer, the country plans to reach the annual production of 1.5 million tons of aluminum ingot by the Iranian calendar year 1404 (March 2025-March 2026).

EF/MA