Value of Iranian mining companies’ shares spike
BAKU, Azerbaijan, September 20
By Elnur Baghishov – Trend:
The value of 85 Iranian mining companies' shares amounted $88.2 billion at the Tehran Stock Exchange in the last Iranian week (September 12-17), Trend reports citing Tehran Stock Exchange’s official website.
According to the report, this is an increase of 16.2 percent compared to the preceding Iranian week.
"Thus, the value of shares of 85 companies increased by $12.3 billion on the Last week," the report said.
The value of shares of companies on the Tehran Stock Exchange amounted to 24.9 percent of the total market value.
According to the report, the examination of the value of the shares of these companies shows that the value of shares of Iran's South Kish Kaveh Steel Company increased by 27.3 percent.
"About 40 percent of the 85 companies at the stock exchange was cement companies and 18 percent was steel companies," the report said.
Iran has exported about $9 billion worth of mining materials per year during the past two years.
Iran ranks 10th in the world in terms of mining materials exploration with 68 types of mining materials. It is specified that there is exactly 40 billion tons of mining reserves in Iran. In addition, it is estimated that there are about 20 billion tons of reserves.