Iran’s mineral reserves sustain for 140 years - minister

Business Materials 15 January 2013 17:14

Azerbaijan, Baku, Jan. 15 / Trend F.Mehdi/

Iran's existing mineral reserves will sustain for 140 years if 400 million tons of the reserves are extracted annually, IRNA quoted Iranian Industry, Mine, and Trade Minister Mehdi Ghazanfari as saying.

Iran's discovered mineral reserves are valued at over $770 billion, he noted.

The potential mineral reserves are estimated to be 57-58 billion tons, of which 37-38 billion tons have been proven, he said.

On September 4, 2012, Iranian Industry, Mine and Trade Minister Mehdi Ghazanfari said that Iran possesses two percent of the world's total mineral reserves.

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

About 5,000 mines are being exploited in the country, he stated, adding that around 340 million tons of minerals were extracted in the previous Iranian calendar year, which ended on March 19.

Earlier this year, Geology and Mineral Exploration Organization Deputy Director Behrouz Borna said that the Islamic Republic of Iran has the largest mineral reserves in the Middle East.

Iran is also one of the top 15 countries in the world in regard to mineral reserves and exports its industrial and mineral products to 159 countries, including Iraq, China, the United Arab Emirates, India, and Afghanistan, he stated.