Mining industry capable of reducing unemployment in Iran

Business Materials 19 March 2018 14:52 (UTC +04:00)

Tehran, Iran, March 19

By Kamyar Eghbalnejad – Trend:

Small-sized companies are capable of playing a key role in resolving the unemployment problem in Iran, the head of Iran National Copper Company said.

Briefing journalists on the situation of mines in the country ahead of the new Iranian calendar year, the head of Iran National Copper Company Mohammadreza Bani-Asadirad has said that new small-sized mines are expected to come on stream in the new fiscal year (starting March 21).

The official forecasted that the outcome of copper concentrate over the next two years will reach 100,000 tons.

Iran exported 383,733 tons of copper products, worth $431.3 million over the first 11 months of the current fiscal year (starting March 20). The figure grew by 50 percent in volume terms and 35 percent in value.

The latest official statistics indicate that exports of Iran’s minerals and mineral industry products increased in terms of value in the mentioned period. However, the volume has decreased.

Exports of the products amounted to $8.396 billion during the first 11 months of the current fiscal year (March 20-Feb.20).

The figure is more by 6 percent compared to the first 11 months of the last fiscal year.

Meanwhile, the volume of minerals and mineral industry products’ export fell by 3 percent to 58.1 million tons in the 11-month period.

There were about 3.2 million unemployed individuals in the country over the first nine months of the current year.