Middle East Mines and Mineral Industries Development Holding Company (MIDHCO)
The Middle East Mines and Minerals Industries Development Holding Company (public joint stock) is established in 2007 by relying on knowledge and expertise as well as banking, mining and industrial backup. On November 7, 2007, the company registered under Registration No. 310643 at the Department General for Company Registration and Industrial Ownership of Tehran.
The region’s mining industry is facing several challenges, such as social and environmental pressure from communities living near mines, the depletion of shallow mineral reserves, water scarcity and market volatility. These are some of the main factors deterring development in the region, says nonmetallic minerals intelligence research company Industrial Minerals market.
Iran is emerging strongly and is also likely to develop its aluminum and steel industries. The country’s “vast resources” of bauxite, lead, zinc, chromite and iron-ore are reportedly worth $1-trillion, which will be a “driving force” behind the MENA region’s mining growth.
Turkey and Northern Iraqi Kurdistan are also key areas for growth, but that the Middle East “will remain peripheral” in the global mining sector as it continues to underperform, owing to political instability in much of the region.
Countries such as Oman, Bahrain, Saudi Arabia, Qatar, Turkey, Morocco and Egypt have shown promising outcomes in the MENA mining sector.
A boom in the Mining and metals sectors in Oman in the coming years, as investment is set to gather momentum, particularly in the copper and aluminum sectors.
As Oman’s government seeks to diversify its economy away from dependence on oil revenue, we expect mining and metals investment opportunities to abound.
Oman holds sizeable mineral reserves that have been left relatively undeveloped, as the growth of the country’s oil sector has taken precedence. Oman also boasts sizeable mineral reserves of gold, silver, chromite, lead, nickel, manganese and zinc.
Major Iranian mining companies produced 197.53 million tons of mineral products in the first seven months of the current fiscal year (March 21-Oct. 22), registering a 9.17% growth compared with last years' corresponding period, the Iranian Mines and Mining Industries Development and Renovation Organization’s latest report announced.
Production in the seventh month of the Iranian year indicates a 13.44% year-on-year rise to 28.91 million tons.
Iran is home to 68 types of minerals with over 37 billion tons of proven and 57 billion tons of potential reserves, including large deposits of coal, iron ore, copper, lead, zinc, chromium, uranium and gold.
Upstream Steel Sector
Iron ore concentrate had the biggest share in Iran’s mineral production during the period under review with 21.88 million tons, registering a 19% growth YOY.
Gologhar Mining and Industrial Complex accounted for 8.03 million tons of the total output, followed by Chadormalu Mining and Industrial Complex with 4.92 million tons, Iran Central Iron Ore Company with 2.86 tons, Goharzamin Iron Ore Company with 2.47 million tons, Middle East Mines and Mining Industries Development Holding Company with 2.18 million tons, Opal Parsian Sangan with 1.21 million tons and Sangan Iron Ore Complex with 190,940 tons.
Production of granulated iron stood at 3.5 million tons, down 7% YOY. Iran Central Iron Ore Company was the biggest producer with 1.05 million tons, followed by Sangan Iron Ore Complex with 979,272 tons, Jalalabad Iron Ore Company with 541,288 tons, Iran Central Plateau Iron Ore Company with 541,648 tons, Chadormalu Mining and Industrial Complex with 216,970 tons and Mishdavan iron Ore Company with 173,710 tons.
Pellet had the second largest share with a total output of 17.96 million tons, up 24% YOY. Golgohar was the largest producer with 6.13 million tons, followed by Mobarakeh Steel Company with 4.43 million tons, Khouzestan Steel Company with 3.76 million tons, Chadormalu with 1.86 million tons and MIDHCO with 1.76 million tons.
Direct-reduced iron came next with the production of 10.76 million tons, up 24% YOY. Mobarakeh had the lion’s share with 4.31 million tons, followed by KSC with 2.24 million tons, Hormozgan Steel Company with 923,712 tons, South Kaveh Steel Company with 839,868 tons, Saba Steel Complex with 647,908 tons, Khorasan Steel Company with 651,590 tons, Ghadir Iron and Steel Company with 496,781 tons and MIDHCO with 473,270 tons.
Downstream Steel Sector
Semi-finished steel had the fourth largest share among mineral products during the seven-month period. Iranian steel mills produced 9.57 million tons of slab, bloom, billet and ingot, up 14% YOY.
Mobarakeh Steel Company was at the forefront with 4.89 million tons. KSC came next with 2.18 million tons, followed by Esfahan Steel Company with 1.33 million tons, South Kaveh Steel Company with 456,876 ton, Khorasan Steel Company with 412,043 tons, Iran Alloy Steel Company with 246,961 tons and Iran National Steel Industries Group with 37,049 tons.
All producers posted growth for the period, with the exception of ESCO and IASCO whose output dropped 6% and 15% YOY respectively.
A total of 6.11 million tons of steel products, including hot- and cold-rolled coils, rebar, beams, pipes, wide and galvanized sheets were produced during the period, up 5% YOY.
MSC and its subsidiary Saba Steel had the largest share of production with 3.34 million tons, followed by ESCO with 1.27 tons, Oxin Steel Company with 453,918 tons, Khorasan Steel Company with 293,398 tons, IASCO with 175,472 tons, Ahwaz Rolling and Pipe Mills Company with 158,501 tons, INSIG with 92,061 tons, Chaharmahal-Bakhtiari Automotive Sheet Company with 117,858 tons and Azarbaijan Steel Company with 100,744 tons.
Copper Sector
Copper mines operated by National Copper Industries Company extracted 97.18 million tons of copper oxide ore during the period, up 7% YOY.
Sarcheshmeh Copper Complex accounted for 48.23 million tons of the total output. Sungun Copper Complex with 29.24 million tons and Miduk Copper Mine with 19.7 million tons came next.
With the exception of Sungun’s meager 1% drop, all the above mines registered growth in output.
The three mines’ sulfide copper ore extraction was up 3% YOY to 29.53 million tons.
Copper concentrate was the main product manufactured in this sector. The output stood at 644,160 tons, recording a 3% rise YOY. It was followed by copper anode with 90,627 tons, down 33%; copper cathode with 77,600 tons, down 30%; and molybdenum with 44,732 tons, up 13% YOY.
Aluminum Sector
Iran’s three major aluminum producers produced an aggregate of 194,913 tons of aluminum ingots in the seven months to register a 3% decline YOY. Iran Aluminum Company produced 99,040 tons, Hormozal Aluminum Company 60,780 tons and Almahdi Aluminum Company 35,093 tons.
Iran Alumina Company produced 140,391 tons of alumina powder, up 2% YOY.
Lead & Zinc
Major Iranian lead and zinc producers extracted 512,751 tons of ore during the period, of which Angouran Lead and Zinc Complex accounted for 492,790 tons and Nakhlak Lead and Zinc Plant for 19,961 tons.
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