December 3, 2020

Persian News

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Mining companies’ sales through stock market up 37% in 7 months

TEHRAN – The total sales of Iran’s large mining companies through the stock market has reached 1.494 quadrillion rials (about $35.5 billion) in the first seven months of the current Iranian calendar year (March 20-October 21), registering a 37-percent rise year on year, according to the Iranian Mines and Mining Industries Development and Renovation Organization (IMIDRO).

As reported by IRNA, Mobarakeh Steel Company with 340 trillion rials (about $8.09 billion), National Iranian Copper Industry Company (NICIC) with 194 trillion rials (about $4.61 billion), Khuzestan Steel Company with 151 trillion rials (about $3.66 billion) and Gol Gohar Company with 122 trillion rials (about $2.9 billion) were the top four companies in this regard, respectively.

The mentioned companies sold 304 trillion rials (about $7.2 billion) worth of shares in the stock exchange in the seventh month of the current Iranian calendar year (September 22-October 21), 76 percent more than the figure for the preceding month.

The companies in the mining and mineral industries sector accounted for 20 percent of the country’s total non-oil exports in the previous Iranian calendar year (ended on March 19).

While Iran’s stock market has been developed noticeably in recent years, especially since the previous Iranian calendar year, the performance of the minerals and mining industry sectors in this market has been very outstanding.

This sector’s performance has been so good that IMIDRO, which is the major state-owned holding company active in the mining sector in Iran, has predicted a promising future for the mining companies in the stock market.

EF/MA

Original News : https://www.tehrantimes.com/news/454248/Mining-companies-sales-through-stock-market-up-37-in-7-months

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