Iran plans to return to the metals market

Economists believe Iran's prospects are pretty good, as it is the 18th largest economy in the world with a well-educated 80 million population. The country's oil and gas reserves are enormous. The Tehran Stock Exchange is the second largest in the Middle East with a capitalization of about $ 150 billion.

In the metallurgical sector, the state owns 90% of all mines and associated large enterprises, but the country desperately needs foreign investment and know-how. Iran is a relatively large producer of iron ore, but the combination of rising domestic demand and low world iron ore prices have severely limited exports.

The country has the ability to easily regain its second largest steel production in the Middle East, with a large domestic market and the potential for long-term and extensive infrastructure development. The depressive state of the world steel market does not represent an obstacle to the expansion of domestic steel production.

Iran has every chance of being an important exporter of metals. The country has 5% of the world's zinc and lead reserves, and the world's second largest gold copper mine at Sar Cheshmeh in the Kernan province with the production of copper concentrate and cathode.

Iran owns bauxite and is a major aluminum producer, although the industry is in need of a technological upgrade and the main producer, Iralco, is listed on the London Metal Exchange with a lot to claim.

Although Iran's coal reserves are estimated at about 50 trillion. tonnes, there is potential to meet domestic demand for thermal and coking coal with adequate investment.

Consequently, the country's opportunities are significant. Both for the economy and for Western firms that will be able to invest and develop the metal industry after the sanctions are lifted. In fact, nothing can ensure Iran's compliance with its nuclear program obligations, like the integration of the economy with the world community and the material growth of the standard of living of its population.