Iran's mines and industries need more investment

Business Materials 24 May 2011 18:07 (UTC +04:00)

Azerbaijan , Baku, May 24 /Trend/

Iran 's Mines and industries need at least $2 billion in investment a year to improve mines exploration, ISNA reported quoting head of Tehran Chamber of Commerce and Industries and Mines Yahya Al-Ishaq as saying.

Iran explored 20 percent of mines reservoirs during 50 years, whilst only $23 billion from the country's income of $800 billion gained in this period (from mine and industury sector) was invested in mines industry, Al-Ishaq said.

The country can explore potential mines reservoirs if it receives $2 billion investment annually, the Iranian official noted.

Due to high investment risks in Mine exploration, the government should apply the necessary measures and participation of private sectors, the security issues of investment should be considered as well, he said.