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Investments in Iran’s non-metallic minerals sector up 21.8%

Business Materials 12 April 2015 12:30 (UTC +04:00)

Baku, Azerbaijan, Apr.12

By Fatih Karimov - Trend:

Investments in Iran's non-metallic minerals sector rose by 21.8 percent in the first 11 months of the past Iranian fiscal year, which ended on March 20.

Some $390 million was invested in the non-metallic minerals sector in the 11-month period, Iranian Mines and Mining Industries Development and Renovation said on April 12.

This is the highest amount of investment among industrial and mineral sectors of Iranian economy.

During the 11-month, 2,832 permits were issued for launching industrial and mineral units.

IMIDRO director Mehdi Karbasian said on March 24 that 30 mining projects, worth over $8.5 billion, have been launched over the past 1.5 years.

Iran's estimated and proven mineral reserve totals 60 billion metric tons.

The country's mineral reserve is estimated to cost $750 billion.

Iran holds three percent of the world's mineral reserve, which puts the country first in the Middle East and third in Asia.

Important mines of Iran include coal, metallic minerals, sand and gravel, chemical minerals and salt.

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