TEHRAN- Iranian Industry, Mining and Trade Minister Reza Rahmani said increasing production of base metals is one of the most serious plans that his ministry is pursuing, IRNA reported.

Making the remarks during the inaugural ceremony of a production line in Mobarakeh Steel Company in Isfahan Province on Thursday, the minister stressed that inauguration of industrial projects under the current condition (sanctions) is a victory in the economic battle.

He further mentioned this year which is named the Year of Pickup in Production by the Leader of Islamic Revolution and said, “We are seriously following up the domestic production movement and have defined a plan to reduce the imports by $10 billion through domestic production of some products by [Iranian calendar] year 1400 (March 2021-March 2022)”.

While the U.S. unilateral sanctions on Iran in recent years have upset the Iranian industry in some sectors, the statistics indicate that the minerals sector has not been affected by the sanctions, while it’s been also improved.

The improvement is more noticeable in the steel sector, as according to the World Steel Association (WSA), Iran became the world’s tenth largest steel producer in 2018.

Iran which stood at the 13th place in 2017 could lag behind three major steel producers in the world, namely Italy, Taiwan, and Ukraine to stand at the 10th place in 2018, despite the re-imposition of sanctions by the U.S.

According to the WSA’s report, Iran produced 25 million tons of crude steel in 2018 which indicates 17.7 percent growth from 21.2 million tons in 2017.

Also as announced by the head of Iranian Mines and Mining Industries Development and Renovation Organization (IMIDRO), annual production of crude steel in Iran is planned to rise three million tons to 28 million tons in the current Iranian calendar year (ends on March 19, 2020).

Such progress in this sector is mainly the result of “indigenizing” approach, which is seriously followed up in all industrial sectors of the country.

In fact, indigenizing the technology of manufacturing required products, equipment and machinery to attain self-reliance is the major economic approach of the country during the sanctions.

In terms of steel, the industry, mining and trade minister has said that the country has achieved a proper self-reliance in this sector.

MA/MA

Photo: Industry, Mining and Trade Minister Reza Rahmani speaking in the inaugural ceremony of a production line in Mobarakeh Steel Company in Isfahan Province on Thursday