Aluminum ingot output planned to rise 63% by March 2021

April 26, 2020 - 14:55

TEHRAN- Iranian Industry, Mining and Trade Minister Reza Rahmani announced that production of the aluminum ingot in the country is planned to increase 63 percent by the end of the current Iranian calendar year (March 20, 2021), IRNA reported.

Iran’s major aluminum producers produced 275,716 tons of aluminum ingots in the past Iranian calendar year (ended on March 19), according to the data released by the Industry, Mining and Trade Ministry.

The country’s aluminum ingot production in the past year fell eight percent in comparison to the figure for its preceding year.

The data show that among the country’s top producers, Iranian Aluminum Company (IRALCO) had the best performance registering a four percent rise during the mentioned period.

On April 23, during the inauguration ceremony of Iran’s biggest aluminum production complex (in the central Fars province), Rahmani said the country’s aluminum production is expected to be doubled with this unit going operational.

The minister put the value of the Iranian mining industry’s production at about $22 billion, saying that the country is relatively self-sufficient in minerals and a great deal is also exported every year.

He went on underlying the country’s capacities in the sector, saying that Iran is ranked 18th among the world’s top aluminum producers, and with this new plant going operational the country will climb four places to stand at 14th place.

As reported, South Aluminum Corporation (SALCO), which was inaugurated by Iranian President Hassan Rouhani during a ceremony via video conference, has an output capacity of 300,000 tons per year and the project was launched with an investment of around $1.2 billion.

SALCO is jointly owned by Iranian Mines and Mining Industries Development and Renovation Organization (IMIDRO), and Ghadir Investment Company, where Iran’s Social Security Organization and pension funds related to the armed forces are the main shareholders.

Iran plans to reach the annual production of 1.5 million tons of aluminum ingot by the Iranian calendar year 1404 (March 2025-March 2026).

MA/MA

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