Iran to carry out mineral projects in Africa
Tehran, Iran, Nov. 22
By Milad Fashtami - Trend:
Iran's Minister of Industry, Mines and Trade Mohammad-Reza Nematzadeh said that the country is in talks to carry out some mineral projects in Africa.
"Iran has invested in a mine in Guinea," he said, without mentioning the element being explored in the mine, Iran's ISNA news agency reported on Nov. 22.
"The mine will come on stream with a 20-year delay," he said.
Iran's investment in African mines comes at a time when the country is making every effort to provide the necessary funds to carry out domestic mineral projects.
Iran's ISNA news agency reported on Nov. 7 that Iran needs to absorb some $5 billion to finish the incomplete mineral projects.
Once the projects come on stream, some 20,000 direct and 100,000 indirect job opportunities will be created.
The previous administration left behind a large number of incomplete mineral projects.
The Industry, Mines and Trade Ministry now says its top priority is to complete the mentioned development plans.
The current administration has so far competed 30 mineral projects worth of over 240 trillion rials (some $7.5 billion based on the exchange rate of US dollar at the free market).
The ministry has invited the private sector, as well as foreign firms to invest in the mineral projects.
Mahnaz Bahmani, a member of Economic Commission of Iran's Parliament (Majlis), told Trend on Nov. 7 that the country welcomes Azerbaijani investors to invest in the metal mines located in the northwest of the country, near the Azerbaijani border.
"There are huge mines of aluminum, copper, zinc, and gold in the northwestern provinces of East Azarbaijan, Ardebil and West Azarbaijan," she said.
"Azerbaijani investors can invest in these projects which are believed to be very profitable," she said.
The official website of Iran's Industry, Mines and Trade Ministry names exploratory operations in aluminum and Iron ore mines as the top priorities of the ministry for investment.
Aluminum and Iron mines are also among the four top discovery priorities.
Iran daily produces 1.2 million metric tons of minerals, according to the ministry.