Iran’s top man in the mining industry said the country is planning a significant increase in the exploration and production activities in the sector as the government seeks to reduce its dependence on oil incomes which have been affected by rounds of sanctions.
Iranian Vice President for Science and Technology Affairs Sorena Sattari highlighted the country’s scientific progress and said special plans were devised to counter US sanctions against Iran’s biotechnology industries.
The Iranian national currency, the rial, was 118,000 against the US dollar on Sunday which shows a relatively high regain of value compared to months of low that followed the American introduction of crippling economic sanctions against Tehran.
Iran’s ports in the south and north of the country are drawing an unprecedented amount of investments from the private sector as authorities eye a jump in onshore manufacturing activities and an improved transportation network that could help exports and imports at the time of US sanctions.
The National Iranian Copper Industry Company (NICIC) made sales worth $1.21 billion during the first three months of the current Iranian year (March 21-June 21), said the CEO of NICIC Ardeshir Sa’d Mohammadi.