TEHRAN – Iran’s mining and metals sector exported more than $7.1 billion worth of products in the first six months of the current Iranian year (March 21-September 22), marking a solid increase in both volume and value, according to new data from the Iranian Mines and Mining Industries Development and Renovation Organization (IMIDRO).

The Economic Management and International Relations Office at IMIDRO said customs statistics show that during the six-month period, the sector exported 38.53 million tons of products valued at $7.107 billion.

In the same period last year, exports stood at 31.07 million tons worth $6.478 billion.

The comparison reflects a roughly 24 percent rise in export volume and a 10 percent increase in export value.

The largest share of first-half exports came from the production chains of steel, aluminum and copper. Combined, these three product groups accounted for 23.02 million tons valued at $5.465 billion.

This marked a 45 percent increase in volume and a 12 percent rise in value compared with the same period a year earlier, when exports totaled 15.85 million tons worth $4.882 billion.

According to the report, the share of mining and mineral industries in Iran’s total exports grew noticeably in the first half of the year, rising 16 percent in volume and nine percent in value.

As stated by the head of the Iran Mine House, the country requires about €55 billion (around $59 billion) in new investment to achieve its planned 13 percent growth target for the mining sector under the 7th National Development Plan.

Mohammad Reza Bahraman, speaking at a press conference ahead of the 19th Iran ConMine Exhibition on mining, mineral industries, machinery and related equipment, emphasized the importance of joint investment frameworks with neighboring countries to boost development in the sector.

He said the mining industry must explore new markets to ensure its long-term sustainability, calling for closer cooperation between government and private stakeholders.

“For the mining sector to thrive, policy and economy must work hand in hand,” Bahraman noted.

EF/MA