Iran's aluminium production rises by 17% in the first 10 months of the fiscal year

As the country's metals sector has boomed, Iran has reported significant increases in aluminium production. On February 20, 2023, IMIDRO, Iran’s state metals and mining company, stated aluminium production in four leading smelters in the country had reached over 528,000 tonnes in the first ten months of the financial year to January 20.

 IMIDRO confirmed that the figure increased by 17% compared to the previous period. In the ten months leading up to January, the South Aluminum Corporation (SALCO), which produced more than 226,000 tonnes of ingots, produced more than 43% of all the aluminium produced in Iran.

Just four years after it was established in the southern province of Fars, SALCO has surpassed all other aluminium smelters in Iran regarding output size. The findings come as Iran pursues to escalate investment in its mining and metals industries to diversify its economy away from oil earnings and increase employment opportunities for the young generation.

IMIDRO's statement also reveals that aluminium production at Iranian Aluminum Company (IRALCO) leapt to over 147,000 tonnes between March 2022 and January this year, counting that over the same period, Al Mahdi and Iran Alumina produced over 123,000 tonnes and more than 30,000 tonnes of aluminium ingots, respectively.

On the economic aspects, Iran's national currency has hit an all-time low as the European Union prepares to impose new sanctions on Iran amid ongoing Western tensions.