Iranian industrial sectors report growth in steel sales and gold mining targets

Nord and Steel Products Company reported a significant increase in revenue, with five-month sales reaching approximately 3,528 billion tomans. This represents an 88 percent increase compared to the same period last year. In the month of August alone, the company recorded 953 billion tomans in sales, driven largely by steel sheet products, which accounted for 817 billion tomans of the monthly revenue.

In the mining sector, Masoud Samiee-Nejad, Chairman of the Board of IMIDRO, announced plans to increase annual gold bullion production from 12 tons to 15 tons by the end of the seventh development program. To achieve this, gold mines will soon be offered through auctions to encourage private sector investment in exploration, extraction, and processing. Iran has identified significant gold reserves, with estimates suggesting total identified reserves could reach approximately 800 tons, spread across provinces such as West Azerbaijan, Kurdistan, Kerman, and Khorasan.