MME was established in 1996 by Ascotek Holding belonging to IMIDRO in Düsseldorf/Germany, aimed at employing the latest European modern technologies in mine and steel plans and downstream industries and transferring technical knowledge and localization.

In 2000, the MME Company-Tehran Branch was founded with the purpose of fulfilling the engineering affairs for steel and mine industry projects. Mines and Metals Engineering Company is the only Iranian company owning a license for revival units and has a license and the ability to design steel plants completely.