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Mining industry

Friday, 25 June 2021 7:13 AM [ Last Update: Friday, 25 June 2021 7:30 AM ]

The modern world simply cannot function without mining. Mined materials are needed to construct roads and hospitals, to build automobiles and houses, to make computers, and generate electricity. Mining is economically important as it brings foreign exchange and is contributor to the national gross domestic product.

According to the Geological Survey and Mineral Mining Explorations agency of Iran, the country has over 57 billion tonnes of mineral reserves, of which around 37 billion tonnes are proven reserves.

Iron, copper, zinc, aluminum, cement and other minerals are also extracted from the 6,000 mines in the country. According to USGS, Iran holds the worlds largest zinc reserves and has the 9th largest copper reserves, and the 10th largest iron ore and uranium reserves.

Figures from the Irans Geological Survey and Mineral Exploration agency show that 410-million tonnes of minerals were extracted last year.

The Ministry of Industry predicted the value of Irans mineral production will reach $22 billion. But, the Ministry of Industry, Mining and Trade says Iran is not exploiting all of its mining potential. Out of the 10,000 mines in Iran, 4,000 mines are idle. In the last 2 years, 500 idle mines were revived. The ongoing revival plans have increased employment and productions.

Irans mining industry is one that provides raw materials to other industries. According to IMIDRO, 50% of global production of sponge iron was produced by Iran in the first half of 2020 alone. Much of the iron is allocated to the steel industry. This year, the World Steel Association ranked Iran as the tenth largest steel maker in the world.

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