Mines and Metals Development Investment Company

Mines and Metals Development Investment Company (MMDIC) is a leading regional mining and metals group which focuses on exploring, mining, processing and marketing the mineral resources and metallic products in Iran. The group was established in 1997.

MMDIC which has comprehensively run several metallurgical entities and sites across Iran has been considerably developed through investment on the new mineral fields and metals processing industries over the past twenty years. The company consolidated net asset value is driven by different mining commodities and financial intermediaries including iron ore, pellet, copper, steel, coke, electricity as well as bank, and start up with market capitalization and net asset value at about 2 bn US dollars in March 2017. The company as mineral investment group has been listed on Tehran Stock Exchange (TSE) as a public joint stock company in 1998 and it has been recently rated as 27th largest company at the TSE in the first quarter of 2017. The MMDIC’s main affiliations is respectively comprised of

Golgohar Mining and Industrial Corp, Chadormalu Mining and Industrial Corp, Khorasan Steel Complex, Iran copper industries, Gohar Zamin Iron ore, Arfa Iron and Steel, Sarmad Abar Kooh Iron, Shahid Ghandi Corporation Complex (SGCC), Sabanoor Mining and Industrial Development Company, Iranian Catalyst Development Company, and Tabas Coke Company.

The MMDIC approach is focused on a clear strategy, with the goal of delivering superior value for our shareholders through the cycle. The group strategy is deliberately drawn to enhance the reputation of company in light of qualified assets, talented employees, strong balance sheet, high return investment, and excellent operations. The group as largest mineral and metallic group in the middle east is planning to develop mineral activities in the context of exploration, extraction, processing, and international trade on mining metal resources and polymetallic products including iron ore, pellet, copper, steel, coke, lead, nickel, cobalt, gold, zinc, and tin in order to upsurge market capitalization from 1.2 bn US dollars in March 2017 to 2.5 bn US dollars by the end of 2025.

Company Profile
CEO: Mr. Azizollah Asari
Year of foundation: 1997
Number of employees: N/A
Market Capitalization: 57,505 billion IRR (January 2018)
Symbol at TSE: MADN
Floated shares: 24%
Total Revenue : 4,423,067 million IRR (2017)

119,25 million USD1

Net Profit: 3,977,343 million IRR
Main Shareholders2 Percentage
Esfahan’s Mobarakeh Steel Company 37.85%
Social & Rural Pension Fund 19.54%
Pasargad Bank 5.59%
Others 37.02%
Subsidiary companies: Ownership Percentage
Chadormalu Mining and Industrial Co. 16.7%
Golgohar Mining and Industrial Co. 21.99%
Sabanour Mining and Industrial Co. 87.76%
Gohar Zamin Iron Ore Co. 20%
Arfa Iron and Steel Co. 20.33%
Intenational Metal Production and Development N/A
Parsland Mines and Industrial Development Co. 35%
Iranian Catalist Develpoment Co. N/A
T.C. Co. N/A
Sadid Mahan Steel Co. 41.09%
Shahid Ghandi Corporation Complex 69.23%
Sarmad Iron and Steel Co. N/A

1: Official exchange rate used on the date of publication; 1 USD equivalent to 37,091 IRR.

2: Only shareholders with more than 5% of shares are specifically named.