Iran has $29bn mining plan

Iran has plans to invest $29bn in its mining industry, about half of it coming from foreign investors, deputy industry, mine and trade minister Mehdi Karabasian has said.

Karbasian is also President of the Iranian Mines & Mining Industries Development & Renovation Organization (IMIDRO).

He was reported by the official newsagency Irna as saying on 13 November that about 240,000 square kilometres have been designated as ready for exploration. Possible minerals, mining and metals projects include schemes to produce aluminium, steel, rare earth elements, copper, gold and coal.

Karbasian said that Iran plans to increase steel output to 55 million tonnes by 2025 from more than 16 million tons in 2014. That will entail Iran increasing iron ore production to 160 million metric tonnes from 45 million tonnes in 2014.

IMIDRO deputy president Jamshid Mollarahman said on 14 November that Iran is ready to export cement to South Africa and for co-operation with South Africa in the mining sector, Irna reported. Mollarahman was reported to have been speaking to South Africa’s deputy mineral resources minister Godfrey Oliphant who was on a visit to Iran.