The Iranian Mines and Mining Industries Development and Renovation
Organization (IMIDRO) has managed to absorb 200 trillion rials (over $7
billion based on official currency exchange rate) in private sector
investments during the past 18 months, Fooladnews quoted deputy minister
of industry, mine, and trade, Mehdi Karbasian, as saying.
He added that IMIDRO’s main goal in the mining sector is to attract
investment from the private sector firms.
Karbasian, who is also the head of IMIDRO, went on to say that the
policy will continue in the current Iranian calendar year (started March
21), and will be focused on persuading non-mining sector firms to
invest in the mining industry.
According to the deputy industry minister, the value of the mining
contracts finalized by the IMIDRO – as the country’s major state-owned
holding company active in the mining sector – reached 45 trillion rials
($1.5 billion) over the past Iranian calendar year, showing an
unprecedented 290% increase compared to a year earlier.
The South Aluminum (Salco), Khamroud coal, and nepheline syenite in the
northeastern city of Sarab were among the most important contracts
signed and finalized last year.
Since the incumbent administration came to power, the industry ministry
has sought to revive the mining projects which had been suspended for as
long as eight years. IMIDRO, as the industry ministry’s executive body
in the mining sector, has also concentrated efforts to facilitate the
presence of foreign mining firms in the national mineral projects.