‘Export markets of Iran’s minerals preserved despite sanctions’

July 1, 2019

TEHRAN- The export markets of Iran’s minerals have been preserved despite the sanctions imposed by the U.S., Head of Iranian Mines and Mining Industries Development and Renovation Organization (IMIDRO) Khodadad Gharibpour said on Monday.

The official made the remarks on the sidelines of a ceremony to celebrate the National Day of Industry and Mine which was participated by Industry, Mining and Trade Minister Reza Rahmani, Foreign Minister Mohammad Javad Zarif, and Majlis speaker Ali Larijani, IRNA reported.

Speaking to reporters, IMIDRO head said, “It could not be said that the sanctions have had no effect on attraction of investment for the implementation of mining projects, but in terms of steel sector our focus is on localizing the related technology which is our main priority; and we have already achieved some good successes in this due.”

“As compared with the other economic sectors the mining sector’s reliance on foreign sources is less, it could preserve its export markets despite all pressures from the sanctions”, Gharibpour further underlined.

In an attempt to [as the U.S. president Trump put it] “choke off the country’s largest non-petroleum related sources of export revenue", Washington imposed new sanctions on Iran's metals and minerals sectors in early May.

While at the first glance [considering Trump’s comments], this might seem to be a heavy hit to Iran’s economy in the near future but a close look into the country’s exports data could reveal Trump’s great miscalculations. In fact, this could even be considered a “blessing in disguise” for the country’s minerals and metal industry.

In a press conference on June 8, Iranian deputy industry, mining and trade minister said the ministry has taken necessary measures to maintain the country’s metal exports despite U.S. sanctions.

“We have established a special working group in the ministry which is closely assessing the situation and making necessary arrangements to mitigate the impact of U.S. sanctions,” Jafar Sarqini told the Tehran Times in the press conference.

The official noted that it is expected for the exports from the country’s mining sector to, at least, reach the last year’s $8.5 billion by the end of the current Iranian calendar year (March 2020).

Also, during a meeting with the members of Iran Steel Association on June 23, Iranian Industry, Mining and Trade Minister Reza Rahmani said the country has achieved a proper self-reliance in steel industry.

Steel industry is one of the industries in which some good investment has been made and today it has become a production advantage, the minister further underscored.

According to World Steel Association, Iran became the world’s tenth largest steel producer in 2018.

Iran-made movement to flourish industry

Addressing the ceremony of National Day of Industry and Mine on Monday, Industry, Mining and Trade Minister Reza Rahmani said that the Iran-made movement alone will flourish industry sector of the country.

“While preserving production was on top of the plans of Industry, Mining and Trade Ministry in the past [Iranian calendar] year, Iran-made movement, which is being followed up this year, can thrive domestic industry on its own”, the minister stressed.

The current Iranian calendar year of 1398 is named as the year of "Pickup in Production" by Leader of the Islamic Revolution Ayatollah Seyed Ali Khamenei.

The realization of this motto toward Iran’s self-reliance is in fact the only way to tackle the U.S. cruel sanctions on Iran’s economy.

And to this end, providing the required working capital for the production units and offering them facilities is one of the major measures being pursued by the government to support these units in the year of Pickup in Production.

Last week, deputy minister of industry, mining and trade announced that the ministry will launch a comprehensive system for registration of domestically-made products in near future.

Farshad Moqimi said this transparent mechanism will lay the ground for introducing different industries and industrial capabilities aiming to strengthen domestic production, IRIB reported on Friday.

MA/MA

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