TEHRAN - A specialized conference on investment opportunities in Iran’s mining and mineral industries opened on Monday in Tehran, bringing together private sector operators and officials from the Ministry of Industry, Mining and Trade.

Speaking at this forum, Touraj Zare’, head of the Iranian Mines and Mining Industries Development and Renovation Organization (IMIDRO)’s subsidiary IMPASCO, said the forum aims to forge stronger partnerships between the government and private enterprises.

“Global investment models have evolved—from resource-driven to capital-based, and now to technology-led,” he noted. “Countries that have pursued sustainable mining development successfully have adopted an integrated approach: starting with resources, making them economically viable through capital, and enhancing sustainability and competitiveness through technology.”

Zare’ stressed that in today’s volatile and unpredictable economic landscape, mineral resources alone are not enough. “Success requires organizational agility, strategic decision-making, intersectoral collaboration, and mutual trust.”

Referring to IMPASCO’s previous collaborations, he said over 70 joint exploration projects with private firms have been conducted in the past five years, covering 500,000 square kilometers through aerial geophysics and geochemical surveys. More than 60 domestic companies have partnered with IMPASCO under various joint venture models.

Zare’ introduced a new model for assigning exploration zones, under which private firms act not merely as financiers but as full development partners—from data and analysis stages through to project completion. “Our goal is to empower the private sector at every step,” he said, describing the approach as a “strategic alliance” for building a smarter, more sustainable, and competitive future in mining.

Deputy Minister of Mining and Mineral Industries Vajiollah Jafari also addressed the forum, noting that out of 80 known types of mineral resources in the country, only 40 have been properly identified. He emphasized the need for more serious planning and investment in the sector, especially to meet the 13 percent growth target.

“Asset identification is our critical weakness,” he said. “We must clearly know what resources we have and address this challenge head-on.”

Jafari noted that the Seventh National Development Plan includes provisions for leveraging private sector capacities in both exploration and operation phases. He announced that data packages, operational licenses, and 1:50,000-scale geological maps are now available for private sector investors.

To activate underutilized mines, the event introduced 270 exploration licenses bundled into 30 investment packages for private sector participation.

EF/MA