Iran to commission mining projects worth $3.5 billion

Business Materials 23 April 2019 15:47 (UTC +04:00)

Baku, Azerbaijan, April 23

By Elnur Baghishov – Trend:

A program has been developed for commissioning mining projects worth $3.5 billions during the current Iranian year (started on March 21, 2019), said Khodadad Gharibpour, Deputy Minister of Industry, Mine and Trade of Iran and Head of Iranian Mines & Mining Industries Development & Renovation Organization (IMIDRO), Trend reports referring to ILNA.

In his words, last year, $2.5 billion project was commissioned in the mining industry, whereas Iran’s exports in the mining sector amounted to $9.5 billion.

"One of the programs is the recommissioning of the small mines operated by the private sector, which had ceased their activities. According to the research, the main reason for the suspension of these mines is the lack of suitable technology and equipment, or low productivity," he said.

Gharibpour added that Iran's mines are located in mostly “deprived zones” (a term used in Iran to refer to economically underdeveloped zones) and expressed hope that the restoration of mining activities would speed up the economic recovery of these zones.