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Iran mulling major mining projects: official

Xinhua, November 15, 2015 Adjust font size:

Iran plans to launch mining exploration projects which can be the biggest ever development attempt in this sector in the country, a senior official said on Saturday.

The projects cover an area of over 240,000 square kilometers across 12 provinces in the country, Deputy Industry, Mine and Trade Minister Mehdi Karbasian said, adding that the effort is in line with Iran's bid to move towards high-end processed products and stop sales of raw materials.

The country is courting international prospectors to develop the sector, said Karbasian, who is also head of the Iranian Mines and Mining Industries Development and Renovation Organization (IMIDRO).

Karbasian said earlier that Iran planned 29 billion U.S. dollars of investment in the mining sector. Also, the Deputy Economy Minister Mohammad Khazaee, said that 15 billion dollars of this sum is expected to be provided by foreign investors.

According to the report, the projects include production of aluminum, steel, rare mineral elements, copper, gold, coal as well as iron ore projects such as concentration, pelletising and sponge iron production. Endit