TEHRAN – Iranian Mines and Mining Industries Development and Renovation Organization (IMIDRO) managed to export $13.3 billion worth of products in the previous Iranian calendar year 1400 (ended on March 20), according to the head of the organization.

Speaking at the signing ceremony of a memorandum of understanding between IMIDRO and Armed Forces Geographical Organization on Tuesday, IMIDRO Head Vajihollah Jafari said: “Since its establishment, this organization has invested more than 23 billion dollars in mining and mineral industries, which has led to the creation and development of various mining units and industries.”

As recently reported, the subsidiaries of the IMIDRO are currently conducting mining development projects worth over $2 billion across the country.

According to IMIDRO, the organization is implementing and completing 25 major development projects across the country which will create job opportunities for 5,500 people when completed.

Equipping mines and establishing lead and zinc factories, developing steel production units, building a gold processing plant, and a number of development projects by the National Iranian Copper Industry Company (NICICO) are among the key projects which are going to go operational by the end of the current Iranian calendar year (March 20, 2023), according to IMIDRO.

Back in July, IMIDRO head had said his organization was going to complete 12 semi-finished mining industry projects by the end of the current Iranian calendar year.

Jafari noted that the mentioned projects were in various fields including copper, steel, lead, zinc, ferrochrome, coal, hydrated lime, and phosphate.

As the major state-owned holding company active in the mining sector in Iran, IMIDRO has been playing a significant role in developing the mining industry in the country. The organization has eight major companies and 55 operational subsidiaries active in steel, aluminum, copper, cement and mineral exploitation fields.

IMIDRO’s strong will for materializing the domestic production target bore fruit as the organization has recently announced that the domestic production and indigenizing technology in the mining sector has saved Iran nearly $1 billion in the previous Iranian calendar year (ended on March 20).

Having 81 different types of minerals, Iran is one of the top 10 mineral-rich countries across the globe. In this regard, the Iranian government has been seriously pursuing several programs for promoting the mining sector as a major contributor to the country’s economic growth.

Iran's proven iron ore reserves are 2.7 billion tons, while the country’s copper reserves are 2.6 billion tons. The country also has 11 million tons of zinc reserves.

The total proven reserves of Iran's mines are estimated at about 60 billion tons, which is expected to reach more than 100 billion tons with the implementation of the Industry, Mining, and Trade Ministry’s exploration programs over 500,000 square kilometers of new mineral zones.

EF/MA