Iran should support its mining sector more than ever - industry insider

Business Materials 13 May 2019 14:40 (UTC +04:00)

Tehran, Iran, May 13


Iran's government should support the mining sector more than ever, head of Iran Mine House Mohammad Reza Bahraman told Trend.

"Increasing investment, attracting investors and joining global market are the priorities of the government and all the obstacles should be resolved," he said.

"Creating possibility to assign mines to foreign and domestic investors and providing guarantee to foreigners alongside consistency of five to ten year period is part of priorities to attract foreign investors," he said.

"Due to use of old technology and incomplete exploration plans for Iran's mines, only 50 to 60 percent of mines are active, therefore there is an intense need for foreign investment,"

"The mine sector exploration plans are the joint issue of communication, however it could not attract foreign investors for small or medium sized mines, and it would only be possible through direct pressure of mine management, by creating standard plans," he added.

He went on to say that considering the extensive relations with neighbors, there is possibility of attracting investment in Iran, since the country has neighbors, so it should use all the available capacities.

Speaking about the possible effect of sanctions on Iran's mining sector, he said that regarding the raw materials, gas and human resources in the mine sector, there shouldn't be any problems, since the sector mostly depends on domestic capacity.

"The only challenge - is providing finances, equipment and machinery," said Bahraman.

"Currently part of technology and machinery in this sector is being provided by domestic industrialists and the other part of is being imported," he said.