Tehran Times - Iranian Deputy Industry, Mining and Trade Minister Jafar Sarqini announced that the country’s annual crude steel production is planned to reach 30 million tons in the current Iranian calendar year (ends on March 19, 2020).

The official put Iran’s crude steel production at 25 million tons in the past year, Tasnim news agency reported on Saturday.

Sarqini has previously announced that Iran will inaugurate steel projects with the capacity of at least 10 million tons during the current Iranian calendar year.

Also, Ardeshir Sa’d Mohammadi, a deputy director in Iranian Mines and Mining Industries Development and Renovation Organization (IMIDRO), has recently announced that the country’s crude steel production capacity will increase by 25 million tons within the next four years.

He said that through such increase in crude steel output, the required feedstock for the plants will be properly supplied.

According to World Steel Association (WSO), Iran became the world’s tenth largest steel producer in 2018.

Iran which stood at the 13th place in 2017 could lag behind three major steel producers in the world, namely Italy, Taiwan, and Ukraine to stand at the 10th place in 2018, despite the re-imposition of sanctions by the U.S.

According to the WSO’s report, Iran produced 25 million tons of crude steel in 2018 which indicates 17.7 percent growth from 21.2 million tons in 2017.

Over 40% of crude steel produced in Iran is exported to different markets worldwide, according to IMIDRO Head Khodadad Gharibpour.

Iran is one of the top 10 mineral-rich countries where 68 types of minerals have been identified so far, including the world’s largest deposits of copper, zinc and iron ore, which are tempting international investors.