News ID: 231436
Published: 0259 GMT September 15, 2018

IMIDRO to launch projects worth $3.7b by mid-March, 2019

IMIDRO to launch projects worth $3.7b by mid-March, 2019

Iranian Mines and Mining Industries Development and Renovation Organization (IMIDRO) will launch $3.7 billion worth of projects by March 20, 2019.

Announcing the above, Mahdi Karbasian, the managing director of IMIDRO said on Saturday that $2.3 billion is dedicated for reactivation of projects, reported.

The official expressed that $5.7 million were allocated to research and development projects during the year to March 20.

In August, IRIB reported that IMIDRO and large private companies have put three major mining projects into operation since the beginning of current calendar year and some 28 other projects are planned to become operational by the yearend.

These projects will create 4,330 direct jobs and 43,875 indirect jobs, according to Somayeh Kholousi, the director for planning and strategic supervision in IMIDRO.

She further said that IMIDRO implemented 27 projects in the past year and put the worth of those projects at $2.9 billion with creating 4,350 direct and 11,950 indirect jobs.

Iran is one of the top 10 mineral-rich countries where 68 types of minerals have been identified so far, including the world’s largest deposits of copper, zinc and iron ore, which are tempting international investors.

Karbasian has said in August that the value of economic projects which are being implemented by IMIDRO will reach $18 billion by 2021.

Karbasian added that on completion, the projects are expected to generate more than 32,000 jobs.

Karbasian said IMIDRO's exploration activities over the past five years have led to the discovery of mines with deposits of 42 tons of gold, 22 million tons of bauxite, 103 million tons of baryte, 30,000 tons of antimony, 345 million tons of coking coal, 200 million tons of coal and 500 million tons of iron ore.

Karbasian added that over 120,000 meters of drilling were conducted in the mining sector in the year to March 2018.

Iran has more than 10,000 mines, of which 60,000 are in operation and the rest are either inactive or being equipped.

Iran's mines 400 million tons of minerals annually, of which 60 percent are construction materials.

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