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  • 13-11-21

    Iran’s mining sector requires USD70b of investment

    (MENAFN) Iran’s mining industry needs USD50 billion-USD70 billion of investment to come to a suitable growth level, according to the deputy head of Iran Chamber of Commerce, Industries, Mines and Agriculture (ICCIMA)’s Mines and Mining Industries Committee.

    On Thursday, Mehrdad Akbarian stated to IRNA, “returning of the mining sector to normal conditions in various sectors of exploration, extraction, and machinery and compensation of arrears in these areas, requires an investment of 50 to 75 billion dollars.”

    During latest years, the mining industry has not been capable to get the essential trust of stockholders, Akbarian added: “Part of this is due to sanctions and barriers in the way of exports, and part is due to changes in domestic laws and regulations. These issues have ultimately led to less investment in this sector.”

    Based on the official, the mining industry’s significance for drawing investment should be the exploration zone, and any nation should have a clear vision of the quantity of its mineral reserves for a period of no less than 20 years to be able to develop in this zone.

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