Iran to complete 34 mining, mineral industries projects by Mar. 2017

July. 19 2016

Mehdi Karbasian, the head of Iranian Mines and Mining Industries Development and Renovation Organization (IMIDRO), announced that 34 mining and mineral industries projects will become operational in the country by his organization by the end of the current Iranian calendar year (March 20, 2017).

Karbasian, who made the remarks in a conference in Tehran on Sunday, put the worth of investment to complete the mentioned projects at $7.2 billion, IRNA reported.

In early May, the IMIDRO head said that Iran offers $40 billion investment opportunities to the foreign entities for development of its mining sector, Mehr news agency reported.

Noting that Iran has a comprehensive plan for the development of mining sector, he asserted that Iran is one of the least expensive countries for investors in mining and mineral industry.

Iranian government plans a growth rate of 8 percent for the economy in the Sixth National Development Plan (2016-2021) and the mining sector has a great potential in this program.

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