Azernews.Az

Iran has obtained the technology to manufacture antimony ingots, which are used in high-tech, electronics, aerospace, and chemical industries, ISNA quoted Chairman of the Iranian Mines and Mining Industries Development and Renovation Organization Amir Amini as saying.

He said that a production unit has been established in the eastern city of Nehbandan for producing 500 kilograms of antimony ingots per day.

The country needs some 100 tons of antimony ingots annually, he said, adding that the unit will export its excess output.

In July, Iranian Deputy Industry, Mines, and Trade Minister Seyyed Alireza Shoja'ei said some 4000 industrial and mineral projects are underway in Iran.

The projects are 70 per cent complete and they will come on stream at a cost of eight trillion rials which is around $652 million based on the official rate of USD and $222 million based on the free market's price, he said.

The industry and mines sector absorbed 62 trillion rials worth of loans in the previous year which was 33 trillion rials less than the required amount, he added.

Iran's mineral and industrial exports faced a 28 percent increase compared to the preceding year.

Iran holds three percent of the world's mineral reserves which puts the country first in the Middle East and third in Asia.

Iran is ranks among the 15 major mineral-rich countries of the world and exports its industrial and mineral products to 159 countries, including Iraq, China, the United Arab Emirates, India and Afghanistan.

The important mines of Iran include coal, metallic minerals, sand and gravel, chemical minerals and salt.

The country has the world's largest zinc and second largest copper deposits and ranks ninth for its iron reserves.