Iranian mining projects worth USD1.8B operational in 1 year

(MENAFN) During the previous Iranian calendar year, over USD1.8 billion worth of mining projects commenced operations, announced Mohammadreza Movasaghi-Nia, the head of the Iranian Mines and Mining Industries Development and Renovation Organization (IMIDRO). These projects have generated employment opportunities for more than 3,500 individuals nationwide, as reported by IRNA. The projects spanned various sectors, including steel, copper, zinc, aluminum, and infrastructure.

According to IMIDRO data, Iran's mineral exports in the past Persian calendar year amounted to USD13.7 billion, marking a nine percent increase compared to the previous year. Conversely, imports of mining and mineral products into Iran surged by 35 percent, reaching USD7.3 billion from March 2023 to March 2024.

Iran ranks among the top 10 mineral-rich nations globally, boasting vast mining areas. It possesses the sixth largest zinc, seventh largest copper, ninth largest iron ore reserves, and fifth largest gypsum and barite reserves worldwide. Additionally, Iran holds significant lead, zinc, and coal reserves, along with deposits of chromate and manganese scattered across various regions.

The country's total proven mineral reserves are estimated at around 60 billion tons, with expectations of surpassing 100 billion tons through the implementation of the Industry, Mining, and Trade Ministry's exploration initiatives covering over 500,000 square kilometers of new mineral zones.



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