TEHRAN – The director of the Exploration Office at Iranian Mines and Mining Industries Development and Renovation Organization (IMIDRO) said investment in the country’s mining projects increased by 173 percent in the previous Iranian calendar year (ended on March 19).

According to Ahmad Fattahi Mojalej, IMIDRO, and its subsidiaries invested 33.466 trillion rials (about $66.9 million) in the exploration sector last year, while the figure was about 12.250 trillion rials (about $24.5 million) a year earlier, IRNA reported.

Back in July, Fattahi said that IMIDRO has prepared new investment packages for the country’s private sector to participate in mining exploration projects.

“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,” the official said.

EF/MA