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Iran looks to create roadmap for its mining sector

Business Materials 14 November 2019 09:26
Iran looks to create roadmap for its mining sector

TEHRAN, Iran, Nov. 14

Trend:

Iran's mining sector seeks to implement a roadmap to develop the industry, head of Iran Iron Ore Association Mehrdad Akbarian told Trend.

"There are roadmaps for the country's upstream sector, so the government and the private sector should prepare a roadmap for the mining sector as well," he said.

Akbarian believes if there's a roadmap, it will help to develop the mining sector in the next four years or so. The official emphasized that a roadmap for the mining sector is the right path if Iran's top managers will agree to certain changes.

"Active businessmen in this sector are concerned that some top managers are reluctant to change anything. Meanwhile, in the current situation, a specific roadmap would be a better solution for the mining sector than revolutionary plans," Akbarian said.

"Unfortunately each manager can only improve a project's progress by 30 to 40 percent and the rest will be ignored while the mining sector needs tranquility to attract new investments and government support, while there are constant changes in regulations by Ministry of Industry, Mine and Trade," he said.

"We are seeking to follow up on the idea of a roadmap and hopefully, the next governments would also agree with this approach," Akbarian said.

The official said that despite sanctions, currently the main goal is to attract domestic investments, not foreign ones.

"We welcome individuals that are capable of investing in the mining sector's development plans," he said.

Speaking of the existing problems in the mining sector, Akbarian said that there are issues with financing, operational problems, lack of equipment is also present, wrong evaluation, and so on.

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