TEHRAN - Iran-Pakistan Joint Chamber of Commerce was officially opened in Tehran on Sunday, the portal of Iran Chamber of Commerce, Industries, Mines and Agriculture reported.
The value of trade between Iran and Pakistan hit $1.2 billion in the past Iranian calendar year (ended on March 20, 2017) increasing from $861 million in its previous year and the figure is planned to increase to $5 billion by 2021.
TEHRAN- Iran exported $495.827 million worth of pistachio during the first eight months of the current Iranian calendar year (March 20-November 21), Tasnim reported on Monday citing customs 8-month data.
The country’s weight of exported pistachio stood at 59,744 tons during the mentioned time span, indicating an 18 percent fall from the figure of last year’s first eight months.
Iran exported 130,000 tons of pistachio worth $1.2 billion to 70 countries in the previous Iranian calendar year (which ended on March 20).
TEHRAN – Representatives from private sectors of Iran and South Korea signed 22 memorandums of understanding (MOUs) in Tehran on Sunday to expand cooperation in technology transfer areas. The MOUs were signed during the 4th Iran-South Korea Small and Medium Enterprises (SMEs) Technology Matching Conference, which was attended by officials from both sides along with managers of eight South Korean […]
More than 3 million square meters of handmade carpets are annually woven in Iran, two-thirds of which are exported and the rest is used to meet the domestic demand, the head of Iran National Carpet Center said. “More than 3,000 tons of hand-woven carpets worth $269 million were exported from Iran during the eight months to Nov. 21, registering a […]
Ahead of the publication of the Global Corruption Report by Transparency International, the Tehran Chamber of Commerce, Industries, Mines and Agriculture organized its annual anti-corruption event on Monday. Held to mark the International Anti-Corruption Day on Dec. 9, the event was attended by top private sector officials as well as representatives of the United Nations and International Chamber of Commerce […]
TEHRAN – Iran’s trade balance registered a $29 billion surplus in 2016, Tasnim reported on Friday citing the “2017 handbook of statistics” report published by the United Nations Conference on Trade and Development (UNCTAD). According to the report, the country’s total foreign trade stood at $109 billion, of which $69 billion was related to exports. The Islamic Republic also exported […]
The rial hit a record low against the US dollar in Tehran’s foreign exchange market, in keeping with its customary surge in December every year. On Sunday, the rial was quoted at 41,550 to the dollar, inquiries by Financial Tribune showed, although higher rates were also reported by the local media later in the day. The American currency had last […]
TEHRAN – President Hassan Rouhani on Sunday inaugurated the first phase of Shahid Beheshti Port, an extension to the strategic Chabahar Port on the Gulf of Oman, which more than triples its annual shipment capacity to 8.5 million tons. The inauguration ceremony was attended by around 60 officials from 16 countries, including India, Pakistan, Afghanistan, Qatar, and Turkmenistan. Addressing the ceremony, Iranian Transport […]
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TEHRAN- Federation of Iranian Food Associations became a member of United Nations Economic and Social Council (ECOSOC), the portal of Tehran Chamber of Commerce, Industries, Mines and Agriculture (TCCIMA) reported on Sunday. The mentioned federation joined ECOSOC after becoming a member of UN’s NGOs. ECOSOC is one of the six principal organs of the United Nations, responsible for coordinating the […]
TEHRAN – Iran’s nominal capacity to produce electricity has reached about 78,000 megawatts (MW) following the connection of a number of power plants to the country’s national grid over the past two weeks. The country’s overall nominal capacity to generate electricity has increased by 381 MW over the past two weeks, reaching 77,987 MW. During the mentioned time, the first […]
CHABAHAR- Lying on the coast of the Gulf of Oman in Iran’s southeastern Sistan-Baluchestan Province, Chabahar is the country’s only oceanic port and given its strategic location in the International North-South Transport Corridor (INSTC) development of the port is of high significance for Iran. The port has two significant docks, namely Shahid Beheshti and Shahid Kalantari, which are mostly referred […]
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TEHRAN- Iran and Turkey aim to increase the value of trade in technical and engineering services sector to $10 billion per annum. Iranian Industry, Mining and Trade Minister Mohammad Shariatmadari and Turkish Economy Minister Nihat Zeybekci signed a memorandum of understanding to boost bilateral technical and engineering services transactions to $10 billion. The MOU was signed at the end of […]
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TEHRAN- Petrochemical production in Iran has risen nine percent since the beginning of current Iranian calendar year (March 21) compared to the same period of time in the past year, according to Ali-Mohammad Bossaqzadeh, the production control director of National Petrochemical Company (NPC). The official put the country’s petrochemical output at 31 million tons since the start of this year, […]
TEHRAN- The first Iran-Germany trade center was opened in Tehran on Thursday under the supervision of Iran-Germany Joint Chamber of Commerce, the portal of Iran Chamber of Commerce, Industries, Mines and Agriculture (ICCIMA) reported. The center seeks ease of mutual trade relations between the businessmen of the two countries, the report said. A new chapter has been opened in Iran-Germany […]
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TEHRAN – Iran’s four main Asian oil buyers increased their crude imports from the country in September to their highest level since March, boosted by a surge in purchases in China and South Korea, Reuters reported citing government and ship-tracking data. Iran’s top four Asian oil customers imported nearly 5.1 percent more oil from the country in September this year […]
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TEHRAN – South Korean Ambassador in Tehran Kim Seung-ho said Iran-South Korea Joint Economic Committee meeting is slated to be held within a month in Seoul. Speaking to Tehran Times on the sidelines of the 23rd Press Exhibition on Sunday, the ambassador said holding the Joint Economic Committee meeting will accelerate the two countries economic cooperation and also Korean companies’ […]
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TEHRAN- According to an official from Trade Promotion Organization of Iran (TPO), Iranian companies signed $465 million of contracts on exporting technical and engineering services during the first half of the present Iranian year (March 21– September 22, 2017), IRNA reported on Monday. “The figure shows 1,000 percent growth, in comparison with the same period in the preceding year,” Mahmoud […]
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TEHRAN – Yukiya Amano, director of the International Atomic Energy Agency, held talks on Sunday with Iran’s nuclear chief Ali Akbar Salehi. Amano who arrived in Tehran late on Saturday plans to hold talks with President Hassan Rouhani and Foreign Minister Mohammad Javad Zarif. Amano’s visit comes amid U.S. President Donald Trump’s inflammatory remarks against the July 2015 nuclear deal […]
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TEHRAN- South Korea will construct a dam in west of Iran, South Korean Ambassador to Tehran Kim Seung told IRIB news in an exclusive interview. The dam with a height of over 300 meters to be built on Bakhtiari River in Iran’s western city of Khorram-Abad through cooperation of South Korean companies will be one of the tallest dams in […]
The technically detailed nuclear deal is working and there is no reason to change its terms, the EU official says Helga Schmid, the secretary general of the European External Action Service, has said that the 2015 agreement on the Iranian nuclear program is working and there are no reasons to change its terms and conditions. The agreement is a very […]
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TEHRAN – Ayatollah Ali Khamenei, Leader of the Islamic Revolution, said on Wednesday that it is a “waste of time” to respond to the insults against Iran by U.S. President Donald Trump. “I do not want to spend time to answer the foul-mouthed president of the U.S.” the Leader told a number of talented students. “It is a waste of […]
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In terms of amount of coal reserves, Iran is one of the richest countries in the Middle East and it could be a good opportunity for Iran to use this advantage however it has not been honored properly and the reason lies in lack of appropriate technology and innovation since this industry consists of exploration, extraction and processing and these are not highly developed in Iran, of course, after JCPOA, the obstacles are expected to be removed and JCPOA provide the base for attracting foreign investment and by investment in this field upgrading to up to date technologies would be achievable easier. During the last few months, great financing agreements between Iran and China and also Iran and South Korea has been signed in which coal industry is in list of priority to invest. Low quality of products, pricing fully by the authority and monopolistic market are main obstacles in flourishing this industry. Recently, Ministry of Industries, Mining and Trade of Iran enforce a new pricing method for coal in order to attract investors.
Iran’s coal proved reserves are near 1.1 billion tons and probable reserves are around 7.1 billion tons, which around 72 percent of this is coke coal and the rest is thermal coal. These rich reserves place Iran in twelfth rank among other countries with possessing more than 2.1 percent of all global reserves. Number of coal mines is exactly a hundred out of 5,355 of all kinds of mines in Iran according to 2014 national census data. Based on this data, more than 55 percent of all reserves are in Tabas, a city in Southern Khorasan province that contains 28 coal mines. Although Tabas is very rich in thermal coal, extraction from its mines is insignificant and it mainly exports to Turkey and Eastern European countries directly because there is no internal consumer due to cheaper oil and gas. Fortunately, Iran plans to build its first thermal power plant which will be fed by thermal coal because of its new strategy for diversification in energy portfolio. Following figure illustrates amount of coal concentrate produced during the last few years, which clearly shows steady growth after dramatic plunge in production began in 2008.
Almost all produced coke coal is consumed in process of steel production and provide the demand of steel makers with blast furnace approach, which the only consumer in Iran is exclusively Esfahan Steel Co. Regard to this monopolistic power of sole consumer and governmental support for this steel producer, price of coke coal is always under control and determine by IMIDRO. As figure shows, the price of coal of Negin Tabas Co, which is traded in Tehran Stock Exchange with tick of TBAS1, is almost steady during the last five years whereas world price faced fluctuations. The figure also depicted lower price of local producer in compare of world prices that is mainly because of lower quality of internal production. Last month, during a meeting between the Minister of Industries, Mining and Trade of Iran and coal committee, new pricing method presented but still there is a major ambiguity in pricing. According to this new method, coal price determined 27 percent of steel billet but the kind of coal is not defined certainly. This kind of pricing has been precedent in iron ore concentrate, which is 13 percent of billet price.
In the table below, capacity and production of three main companies which produce coal in Iran and are traded in Iran Stock Market has been shown.
Considering ambitious plan in Iran`s steel industry in order to reach 55 million tons production in 2025, blast furnace steel production capacity must reach to 6 million tons from the current 3.5 million tons. This would not be practical unless production of coking coal and coal concentrate increase to 3.2 and 4.5 million tons respectively, which current output of coal concentrate is near three million tons. Additionally, projected plans in coking units will increase demand for coal after they become operational in near future.
To wrap it up, deprived coal industry experiences new conditions and needs further attention. Although new pricing method do not change coal price significantly, it is a step forward to rescue from unfair pricing. Magnificent prospect of steel industry due to 2025 vision plan in Iran and new strategy in diversification of energy portfolio call for revolutionary reforms, massive investment and new technologies in coal industry.