Iran's current ore reserves will last for a maximum of the next 14 years. This was stated by the head of the Mining Engineering Organization of Iran (IMEO) Tagi Nabei, reports on Thursday Trend with a link to the organization's information portal.
According to him, if Iran uses its mineral resources in accordance with world standards, it can bring several times more income than from oil. Nabei noted that this sector can be developed by investment.
Note that currently Iran's ore reserves are about 50 billion tons. This year (from March 20, 2020 to March 21, 2021) it is planned to increase this stock by 20% to 60 billion tons.
Last year (from March 21, 2019 to March 20, 2020), 410 million tons of ore resources were mined in Iran. This year this figure will increase by 25%. Growth will be driven mainly by iron ore, copper, steel, lead, zinc and gold.
This week, the US additional sanctions against the Iranian metallurgical industry in an attempt to stop the growth of the country's income from the production and sale of ferrous metals.
According to the World Steel Association, Iran's steel industry remains the fastest growing in the world, increasing its production in January-July 2020 to 16.335 million tonnes of steel, up 10.8 percent over the same seven months of 2019 ... Iran's steel production also increased by 30 percent in 2019, while the sector's average global growth was 3.5 percent.