Iran invests $130 million in mining explorations

Business Materials 17 December 2012 16:04 (UTC +04:00)

Azerbaijan, Baku, Dec. 17 /Trend G.Mehdi/

Some 1.6 trillion rials (about $130 million) has been invested in mining explorations in Iran during the past three years, ILNA quoted Iranian deputy industry minister Vajihollah Jafari as saying.

Explorations related to metal ores should be expanded, he said, adding that just 10 per cent are conducted in the metal ores section.

Iran is ranked among the 15 major mineral rich countries of the world and exports its industrial and mineral products to 159 countries, including Iraq, China, the United Arab Emirates, India and Afghanistan.

Iranian Industry, Mine and Trade Minister Mehdi Ghazanfari has said that Iran holds two per cent of the world's total mineral reserves.

He added that the mineral reserves include 12 metal and 36 non-metal ores.

Some 5000 mines are being worked in the country, he said, adding that around 340 million tons of minerals were extracted in the past Iranian year which ended on March 19.