News ID: 195017
Published: 1418 GMT 18 Jun 2017

Iran exports over $1b of mine products in two months

Iran exports over $1b of mine products in two months

Iran exported 7.683 million tons of mine and mineral industry products worth $1.02 billion during March 21- May 21 marking a 117-percent rise in terms of value compared to figure for the same period last year.

According to IRNA, the country exported 4.091 million tons of mine and mineral industry products worth $470 million during March 20- May 20, 2016.

Exports of mineral products reached $6.5 billion during the year to March 20, the report showed, indicating a 14-percent rise compared to the figure for last year.

In January 2016, Iranian and Italian companies agreed on mining investments worth €5 billion during President Hassan Rouhani's visit to Rome on the first leg of a landmark visit to Europe.

"Several memorandums worth €5 billion were signed with Italy for investment in Iran's mining industries," Deputy Industry, Mine and Trade Minister Mehdi Karbasian said.

The MoUs envisage joint investments in steel production in southern Iran in an area stretching from Chabahar on the Sea of Oman to Bandar Abbas and Jask in the Persian Gulf, he said.

In the ventures, Italy's Danieli will hold a 60-percent stake while IMIDRO will take 40 percent, Karbasian added.

The Italians are also about to partner Iranian and Chinese companies in implementing the second phase of Salco, the largest aluminum smelter plant in Iran.

Italian companies are interested in aluminum and steel projects while French firms are eying aluminum and technical cooperation, Karbasian had said.

Leading Japanese steelmakers have also indicated interest in Iran's mining projects, including production of precious metals such as titanium.

   
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