20 big mining projects to come on stream
Tehran Times Economic Desk

TEHRAN -- Iranian Mines and Mining Industries Development and Renovation Organization (IMIDRO) stated that 20 big mine project worth $3.1 billion will come on stream by the end of the Iranian calendar year (March 2010).

The Mehr News Agency reported IMIDRO Director Ahmad-Ali Harati-Nik stating that currently 8 projects are ready for inauguration.

He pointed out that since four years ago $7.6 billion of the projects invested on by IMIDRO have started work.

Harati-Nik pointed out that steel production in the next four years will increase considerably and supplying iron ore in the country must increase to meet the demand.

IMIDRO is an industrial organization which aims to survey, prepare, undertake, develop, equip and renovate projects in metallurgy production industries, mining and exploitation of minerals, as well as operating discovery plans.

IMIDRO was set up under the establishment law of Industrial Development and Renovation Organization of Iran (IDRO) whose by-law and regulations were ratified in July 1967. It comprises eight major companies and some 55 operational subsidiaries active in steel, aluminum, copper, cement, and mineral exploitation.

IMIDRO is considered a specialized umbrella company and casts an advanced supervisory look upon operational subsidiaries, and plans their privatization process

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