TEHRAN – Iran Mine House (IMH)’s policy council, on Sunday, gathered together to discuss issues and problems of the country’s mining sector in the sanctions era, IRNA reported.

In this meeting, the need for close communication between the High Council of Mines and various organizations and entities active in this sector was emphasized.

The issue of imposing duty on the exports of raw minerals (especially iron ore) was one of the most important issues discussed in this meeting.

Speaking in the meeting, the IMH Head Mohammadreza Bahraman said imposing such regulations has negatively impacted the performance of the companies in this industry and even the minerals transportation network has also faced serious problems.

“The decorative stones sector has suffered a great deal from the implementation of the duty policy, these regulations were supposed to support domestic companies but they have done nothing so far,” Bahraman regretted.

In a bid to prevent the exports of unprocessed minerals, creating more value-added and meeting the requirements of domestic producers for the raw materials, Iran has levied a 25-percent duty on the exports of raw minerals (especially iron ore) since September 2019.

While the new duty has satisfied steel producers in the country, it has provoked severe criticisms from those active in the mining sector, as they believe that such sudden decision can be a big shock to investment in this sector.

Is has been said that the shock will be even bigger for the private companies investing in the mining sector because under the current economic condition of the country they are seriously in need of the liquidity secured from the exports.

IMH is a non-government organization that supports and promotes the Iranian mining industry. The House serves its members and promotes their interests by providing strategic support and advisory input. 

EF/MA