Necessary programs should be implemented in Iranian mining sector

Business Materials 25 April 2019 11:24 (UTC +04:00)

Baku, Azerbaijan, April 25

By Elnur Baghishov – Trend:

In the future, a “proper program with certain objectives” should be implemented at Iranian mines, said Ardeshir Sad Mohammadi, deputy head of Iranian Mines & Mining Industries Development & Renovation Organization (IMIDRO), Trend reports referring to the Islamic Republic of Iran News Network (IRINN) TV channel.

According to Mohammadi, mining projects worth about $3 billion will be commissioned this Iranian year (starting on March 21, 2019), and a number of other mining projects are currently under development.

He noted that Iran has more than 50 billion tons of mineral resources, but the country, however, extracts only about 400 million tons of mining material every year. "The value of the world's natural resources stands at about $810 trillion, and Iran's share is $27.3 trillion. This shows that there are great opportunities for investment in Iran," he said.

Iran can potentially produce 35 million tons of steel, while about 25 million tons of steel were produced last year, Mohammadi added. In his words, another 25 million tons of steel will be added to Iran's current production potential over the next four years.