TEHRAN- The value of Iran’s exports from the mining sector stood at $6.668 billion in the first seven months of the current Iranian calendar year (March 21-October 22), IRNA reported.

As reported, the Iranian mining sector exported 25.556 million tons of products during the said seven months.

The exports from the mentioned sector decreased by six percent in terms of value and one percent in terms of weight, compared to the figures for the same period in the previous year.

Steel ingots and steel chain products accounted for the biggest share of the exported items during the period under review. Some $3.146 billion worth of such products were exported in the said time span, accounting for 46 percent of the total value of the exports.

Copper and zinc products, iron ore pellets, and cement chain products were also among the top exported items in the mentioned seven months.

Iran also imported 2.399 million tons of mining and mineral industry products worth $2.608 billion in the first seven months of the current year to register a 30-percent increase year on year.

The weight of the imported products, however, decreased by one percent.

Having 81 different types of minerals, Iran is one of the top 10 mineral-rich countries across the globe. In this regard, the Iranian government has been seriously pursuing several programs for promoting the mining sector as a major contributor to the country’s economic growth.

Iran's proven iron ore reserves are 2.7 billion tons, while the country’s copper reserves are 2.6 billion tons. The country also has 11 million tons of zinc reserves.

The total proven reserves of Iran's mines are estimated at about 60 billion tons, which is expected to reach more than 100 billion tons with the implementation of the Industry, Mining, and Trade Ministry’s exploration programs over 500,000 square kilometers of new mineral zones.

Despite the country’s huge potential in this area, due to some issues like the lack of necessary machinery and equipment and the lack of access to financial resources and foreign investment because of the U.S. sanctions, the Iranian mining sector has been struggling to operate at its maximum capacity over the past few years.

So, the government programs for promoting this industry are mainly focused on relying on domestic sources for helping the mining sector overcome its current problems and hit its ideal targets.

EF/MA