Mining industry

Based on exploratory studies, Iran has around 40 billion tonnes of proven mineral reserves worth just under $800 billion.

The country also has an estimated one billion tonnes of iron reserves and is ranked tenth in the world for this reason.

It is because of these rich reserves that Iran is the biggest producer of DRI in the world. In fact, last year, Iran overtook India as the largest producer of DRI.

Despite the sanctions imposed on the country throughout the years, Iran has expanded its Iron ore and steel production capacities.

As a whole, Iran’s sponge iron production has increased steadily over the last five years. Production went up by 3% in the first half of last year alone.

The iron ore industry in Iran is worth billions and it is a major contributor to the country’s economy.

The iron ore production is tightly intertwined with the steel industry and both sectors have achieved a lot of growth in recent years.

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