Iran’s 8-month metals export to Iraq, Turkey, Afghanistan neared $1.5bn: Report
A report shows that Iran’s total export of mining and metals products to three neighboring countries of Iraq, Turkey and Afghanistan reached nearly $1.5 billion in value terms in the eight-month period ending in late November 2019.
The report by IRNA agency showed that Iran exported some 8.5 million metric tons of metals and mining products to the three countries between March and November last year.
The report said that Iraq received more than 50 percent of the exports with 5.713 million tons worth nearly $798 million.
It added that Turkish imports from Iran reached 512,000 tons worth $393 million while exports to Afghanistan totaled 2.275 million tons with a value of $291 million.
Iran has seen a significant surge in activity in its mining and metals sector since the United States imposed a series of tough sanctions on the country’s sale of oil in November 2018.
Washington enacted bans on Iran’s trade of metals in May 2019, a year after it withdrew from a landmark international deal on the country’s nuclear program.
However, the sanctions targeting Iran’s lucrative metals trade have largely failed mainly because customers mostly prefer to have the shipments processed via third countries to avoid the bans.
The IRNA report said that Iran exported a total of $9.2 billion worth of various metals and mining products in the Persian calendar year ending in late March 2018.
The report said that shipments had exceeded 57 million tons in volume terms in the 12-month period, adding that it was steel that accounted for the bulk of the exports.
The Iranian mining sector and its downstream industries have created over half a million jobs with more than a fourth of them concentrated in mines across the country.
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