Vol. of investment in Iran’s mining sector at 60% growth last year

TEHRAN, Jun. 03 (MNA) – Spokesman for the Iranian Mines and Mining Industries Development and Renovation Organization [IMIDRO] said on Wed. that volume of investment in the mining and mineral sector registered a 60 percent growth last year [ended March 20, 2020].

Mohammad Sepehr in an interview with IRNA on Wed. put the volume of investment made in mining and mineral sector last year at $3.2 billion, showing a considerable 60 percent growth as compared to a year earlier.

He also put the investment made in mining and mineral sector in 2018 at $2 billion, adding, “Iran’s investment in this sector increased last year despite tough US sanctions and also spread of the coronavirus in the country.

He further noted that most mining and mineral projects were put into operation but the official inauguration of some of these mining projects was postponed due to the coronavirus pandemic.

With the coordination made in this regard, $2.2 billion worth of mining and mineral project would be inaugurated in the current year named after ‘surge in production’, he emphasized.

Activity in the field of mineral explorations registered an eye-catching 210 percent growth last year [ended March 20, 2020], the IMIDRO spokesman added.

MA/IRN83809467

News Code 159402

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