Mining projects worth $3b to be inaugurated in a year

April 26, 2019 - 19:47

TEHRAN- Projects worth $3 billion are planned to be inaugurated in Iran’s mining sector in the current Iranian calendar year (began on March 21, 2019), IRIB quoted Iranian Mines and Mining Industries Development and Renovation Organization (IMIDRO) Managing Director Khodadad Gharibpour as saying.

The official has previously announced that projects worth $2.17 billion have been put into operation in this sector during the past Iranian calendar year.

He said 20 projects implemented by IMIDRO in the previous year created 4,440 direct jobs and 25,300 indirect jobs, IRNA reported.

The deputy industry and mining minister also said that the projects were implemented through cooperation of private sector.

As previously announced by the Public Relations Department of IMIDRO, the organization intends to renovate 5,000 economic units using 100 trillion rials (about $2.38 billion) of investment during the current Iranian calendar year.

As well as renovating economic units, reviving small mines and expansion of exploitation activities stand among the top priorities of IMIDRO in this year.

IMIDRO also plans to ease its domestic and foreign trade activities, facilitate international trade, improve competitiveness, and make exported goods variable in the current year.

As the organization announced on Tuesday, the value of Iran’s minerals and mining industries’ exports stood at $9.226 billion in the past year.

IMIDRO data indicate that the steel products account for the lion’s share of the exports from this sector in the past year, with the value of $4.1 billion.