TEHRAN - The Iranian Mines and Mining Industries Development and Renovation Organization (IMIDRO) has prepared new investment packages for the country’s private sector to participate in mining exploration projects, an official with the organization announced.

“Considering IMIDRO's approach in line with the slogan of the year which is the realization of public participation in the leap of production, the private sector should be ready to invest in the exploration sector,” IRIB reported quoted Ahmad Fattahi Mejlej.

According to Fattahi Mejlej, the necessary guidelines and conditions for the mentioned investment packages have been prepared by IMIDRO and the organization will soon publish a public notice to invite private contractors to partake in certain exploration projects.

Pointing out that IMIDRO’s committee for the compilation of rules, criteria, guidelines and standards has prepared the mentioned guidelines, he emphasized: “These standards and instructions are in accordance with international standards and will be published and informed by reliable media soon after the final revision.”

Given the significance of mining sector in Iran, implementation of projects to develop different parts of this sector has been always a major program of the governments.

In this regard, achieving a 10.5-percent value added rise in the mining sector, and increasing mining exploration to two million meters from 510,000 meters has been a top agenda of Iran’s Industry, Mining and Trade Ministry.

As a major state-owned holding company active in the mining sector in the country, IMIDRO is playing a significant part in this regard, and in line with its development role, it is seriously pursuing the target of conducting two million meters of mining exploration by the next three years.

To this end, the organization has defined a number of programs including supporting the contractors active in the mining exploration operation, upgrading the geographical information system (GIS) database based on international standards, exploration of hidden and deep resources using new methods and training of required manpower.

Exploration and processing of rare minerals with special technologies, assistance in equipping and updating the drilling fleet with the help of Mining Investment Insurance Fund, planning to support and upgrade the scientific-technical level of exploration consultants, and conducting additional exploration operations in all existing mines for increasing the reserves tonnage are the other programs of IMIDRO in this due.

Involving the private sector in exploration activities is also an approach that the organization has included in exploration programs.

IMIDRO had also previously announced that considering the importance of exploration operation in the mining sector, IMIDRO was preparing a strategic five-year program for more focus on exploration activities.

EF/MA