Russia to participate in Iran’s mineral exploration projects
Baku, Azerbaijan, Nov.9
By Umid Niayesh - Trend:
Iran and Russia are negotiating about the Russian companies' participation in mineral exploration projects of the Islamic Republic.
Head of the Iran's Mines and Mining Industries Development and Renovation Organization (IMIDRO), Mehdi Karbasian said that the organization is negotiating with certain Russian companies to carry out mineral exploration projects in an area of 7000 square kilometers, the Islamic Republic's ISNA news agency reported Nov. 9.
The Area includes south eastern Kerman and Yazd provinces, Karbasian added.
Earlier in August Karbasian said that Iran is ready to attract foreign investments for exploration, exploitation, and processing of minerals.
One of the main policies of the administration is to encourage Iranian investors living overseas to participate in domestic development projects, Karbasian added.
Iranian officials say that so far many foreign companies in the field of mining equipment and machineries, exploration, extracting, processing and metallurgical industries have shown interest to enter Iran's mineral market.
The Islamic Republic stands among the top 15 mineral rich countries in the world and ranks first in the Middle East.
The country holds more than seven percent of the total mineral reserves of the globe. It lies on 37 billion metric tons of proven reserves and holds more than 57 billion metric tons of potential reserves of some 68 types of minerals.
The most important mines in Iran include zinc, copper, iron, uranium, lead, coal, salt, sand and gravel.