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Last updated on - April 2, 2026, 3:11 PM IST
West Asia is home to a lot of minerals, especially rare ones. In the middle of it sits Iran.
The country is currently in the middle of a war with the US and Israel, leading to a shortage of crude oil due to the closure of the Strait of Hormuz.
Iran is not just home to crude oil but also other minerals, including uranium, lithium, and rare-earth minerals.
The country ranks sixth in zinc reserves, seventh in copper reserves, and ninth in iron ore reserves. Iran also ranks among the top five in gypsum and barite production.
Now, Iran is focusing on using minerals like cerium, lanthanum, neodymium, and yttrium. These elements are used in smartphones, electric vehicles, solar panels, and defense equipment.
Iran also has vast lithium reserves that were discovered in Hamadan Province in 2023. The element is used in electric vehicle batteries.
Iran also has massive reserves of uranium, which is used in its nuclear programme and energy needs.
Thus, the country is not only an exporter of oil but has several rare minerals as well. This can help the country develop a new identity for itself.
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