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Iran's government plans to invest in gold mining

Business Materials 25 August 2020 14:47 (UTC +04:00)
Iran's government plans to invest in gold mining

TEHRAN, Iran, Aug.25

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Iran's government is ready to provide financing for gold mining, while so far it has succeeded in increasing the gold production 14 times, since coming to power in 2013, said Iran's President Hassan Rouhani, Trend reports via IRNA.

"Gold has important value for us and by development and extraction of gold mines, it could be exported and help Iran to lift reliance on oil revenues," said Rouhani.

"Gold can support our currency, it can be used in sensitive industries and therefore the government is ready to show more effort in this regard," he said.

"The Ministry of Industry, Mine and Trade is to implement special measures regarding the precious stones and saffron fields, as well to prevent raw sale of these products," he said.

"Development of saffron package industry and precious stones require special work and it is important for the country," he added.

"The government is ready to support private sector in packaging saffron and precious stones and other products," he said.

"Steel and petrochemical industry were successful in export and bringing revenues, despite pressure from sanctions," he said.

"Steel production has increased 10 percent in first four months of the current Iranian year (started March 20,2020) and all factories followed health protocols during the coronavirus spread," he said.

"The government has started the renovation of the transportation fleet, in the beginning of its second ruling term and imported the necessary spare parts," he said.

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