Iranian mines managed to extract 650 million tons of minerals in the past Iranian calendar year 1401 (ended on March 20), registering a five percent growth compared to the preceding year, an official with the country’s Industry, Mining, and Trade Ministry said.
According to Mehdi Hamidi, the director-general of the Mining Operations Office at the Industry, Mining, and Trade Ministry, the minerals extracted from mines have been mainly used in processing industries and related factories inside the country, IRIB reported.
Speaking at a mining conference in central Yazd Province, Hamidi noted that reviving idle mines, holding tenders for mining projects, developing mining activities, and modernization of the country’s mining machinery are among the main plans of the Industry, Mining, and Trade Ministry this year as a strategy for the development of the mining sector.
Having 81 different types of minerals, Iran is one of the top 10 mineral-rich countries across the globe. In this regard, the Iranian government has been seriously pursuing several programs for promoting the mining sector as a major contributor to the country’s economic growth.
Iran’s proven iron ore reserves are 2.7 billion tons, while the country’s copper reserves are 2.6 billion tons. The country also has 11 million tons of zinc reserves.
The total proven reserves of Iran’s mines are estimated at about 60 billion tons, which is expected to reach more than 100 billion tons with the implementation of the Industry, Mining, and Trade Ministry’s exploration programs over 500,000 square kilometers of new mineral zones.
Despite the country’s huge potential in this area, due to some issues like the lack of necessary machinery and equipment and the lack of access to financial resources and foreign investment because of the U.S. sanctions, the Iranian mining sector has been struggling to operate at its maximum capacity over the past few years.
So, the government programs for promoting this industry are mainly focused on relying on domestic sources for helping the mining sector overcome its current problems and hit its ideal targets.
