We expect the removal of United Nations (UN) sanctions on Iran in January ---- to attract mining investors from Europe and Asia into the country. However, the sector will face major challenges in the short term, due to the country s inefficient bureaucracy, inadequate infrastructure and low mineral prices. ...While mining investment following the sanctions relief has not been too noteworthy, we expect investment in steel and iron ore to be considerable and pick up faster than investment in other minerals. This is because of the increasing demand for steel in Iran and the wider Middle East and North African region, for which along with increasing steel production capacity of domestic producers, the government is also inviting foreign companies to invest in the iron ore and steel sectors. Iran s mining industry value will grow by an annual average rate of -.- over ---------. ...Iran s zinc mine production will grow by an annual average of -.- between ---- and ----, compared to an average annual decline of --.- over the last five years.
...The state-owned National Iranian Copper Industries Company (NICICO) is the largest copper miner in the country, with almost a monopoly over copper production in Iran. In April ----, NICICO announced that owing to low commodity prices, it would scale back its future plans to increase copper production to --- kilo tonnes per year (ktpa), while still aiming to reach ---ktpa by ----. ...The state-owned National Iranian Copper Industries Company (NICICO) is the largest copper miner in the country, with almost a monopoly over copper production in Iran. In April ----, NICICO announced that owing to low commodity prices, it would scale back its future plans to increase copper production to --- kilo tonnes per year (ktpa), while still aiming to reach ---ktpa by ----. The sanction removal will have the potential to accelerate the growth of Iran s copper mining sector over the next few years. ...Iran s copper production will average an annual growth of --.- during ---------, compared to -.- during the past five years. Copper production will reach --- kilo tonnes (kt) by ----.
...� Business Monitor International Ltd Page - prices over the next few years, from USD-,---/tonne in ---- to USD-,---/tonne by ----. Additionally, demand from the domestic construction sector - which will grow by an average of -.- over ---------, compared to the -.- in --------- - will buoy zinc ore production. ...
