Mines and Metals Development Investment Company
Mines and Metals Development Investment Company (MMDIC) is a Tehran-based, Tehran Stock Exchange-listed investment holding established in 1996. It invests principally in Iran’s iron ore, steel and basic-metals value chains through stakes in major mining, metals and industrial companies. The group is a key ownership and capital-allocation channel for analysing Iranian mineral-sector supply chains and listed-market exposure.
Market position
A development-oriented listed holding with a portfolio concentrated in Iran’s iron ore, steel and basic-metals value chains. Metal ores and basic metals account for approximately 90% of assets, while more than 80% of assets are shares in Tehran Stock Exchange-listed companies.
Operations & footprint
Products and services
Mines and Metals Development Investment Company is a mining and metals-focused investment holding with exposure to iron ore, steel, mineral industries, basic metals, listed industrial companies, and development-oriented mining assets. Its activities are centered on portfolio ownership, sector development, capital allocation, and participation in mineral and steel value chains.
Operations and assets
MMDIC manages an equity portfolio rather than operating a single mine or steel plant. Its principal assets are shareholdings across iron ore mining, steel production, copper, coke, energy, catalysts, cable manufacturing and mining-development companies.
Geographic footprint
Headquartered in Tehran, Iran, with investments across Iran’s mining and mineral-industries sector.
Ownership & group structure
Ownership
As of 28 February 2022, Mobarakeh Steel Company, the Social Insurance Fund of Farmers and Villagers, and Shasta Group collectively held 71% of the company’s shares.
Subsidiaries and group companies
The company holds major shareholdings in Gol-Gohar Mining and Industrial Co., Chadormalu Mining and Industrial Co., Goharzamin Iron-Ore Co., National Iranian Copper Company, Sabanour Mining and Industrial Company, Khorasan Steel Complex, Arfa Iron and Steel Company, Pouya Energy Company, Shahid Ghandi Cable Manufacturing Factories, Tajalli Mining and Metals Development Company, Iranian Catalyst Expansion Company, Parto Taban Ma’aden Metals Company, and Tabas Coke Company.
Reported scale
Scale note: As of 24 February 2026, market data listed a market capitalisation of approximately IRR 904.685 trillion, 445 billion shares outstanding, earnings per share of IRR 422 and a price-to-earnings ratio of 4.82.
Commercial and investment relevance
In the Hormuz investment graph, Mines and Metals Development Investment Company connects listed capital markets, mineral reserves, iron ore supply, steel production, commodity exchange exposure, energy-intensive industry, and export-oriented materials chains. It is useful for screening mining-sector concentration, identifying strategic shareholders, mapping upstream-to-downstream metals exposure, and assessing raw-material bottlenecks. Foreign-facing analysis should verify current portfolio holdings, subsidiary relationships, disclosure data, environmental and energy constraints, counterparty exposure, and compliance risks before commercial reliance. The company is a significant capital-allocation and ownership node for counterparties linked to Iranian iron ore, steel and basic metals. Its holdings matter to suppliers, buyers and partners assessing relationships across upstream mineral supply, industrial processing and supporting energy assets.
Constraints, risk & compliance
Key risks and constraints
Portfolio performance is closely tied to the iron ore, steel and basic-metals cycle. Concentration in listed holdings and energy-linked industrial assets also exposes the group to changes in commodity pricing, operating conditions at investee companies and energy availability for metals production.
Sanctions and compliance considerations
Its Iranian mining, metals and listed-equity exposure requires transaction-specific counterparty, ownership and sanctions screening for international dealings.
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Frequently asked questions
Direct answers to the questions most likely to arise when reviewing this profile.
What does Mines and Metals Development Investment Company do?
MMDIC is a development-oriented investment holding that owns stakes in Iranian mining, iron ore, steel, copper and other mineral-industry companies.
Is MMDIC publicly listed?
Yes. Mines and Metals Development Investment Company trades on the Tehran Stock Exchange Primary Market under the ticker ومعادن.
Which sectors dominate MMDIC’s portfolio?
Metal ores and basic metals account for approximately 90% of assets, with most investment concentrated in the iron ore and steel value chain.
Where is MMDIC headquartered?
MMDIC is headquartered at No. 3, Esfandiar Boulevard, Africa Street, Tehran, Iran.