TEHRAN – Iran’s Mines and Mining Industries Development and Renovation Organization (IMIDRO) announced that mining and mineral industry projects worth $1.3 billion were completed in the first 10 months of the current Iranian year (March 20, 2024-January 20, 2025).

According to IMIDRO, these projects have directly created over 3,100 jobs and indirectly generated employment for more than 8,600 people.

The projects include the construction of a steel production plant with an annual capacity of 800,000 tons of bloom and billet, a titanium project with a production capacity of 130,000 tons of concentrate, a provincial steel plant with an annual output of 800,000 tons of slab, a zinc concentrate project with a production capacity of 200,000 tons, a coil production facility with an annual capacity of 450,000 tons, a pelletizing plant with a four-million-ton capacity, and the development of solar power plants in the provinces of Kerman and Yazd.

These projects were implemented across the provinces of Fars, Yazd, Kerman, and Chaharmahal and Bakhtiari.

In recent years, Iran has ramped up investment in its mining sector, launching several large-scale projects aimed at increasing production capacity and reducing reliance on raw material exports. One of the most significant projects has been the development of the Sangan mining complex in Khorasan Razavi Province, which is expected to become a major hub for iron ore production and processing. Similarly, the expansion of the Golgohar and Chadormalu mines has played a key role in strengthening Iran’s position in the global steel and iron ore markets.

Despite facing challenges due to international sanctions and restrictions on financial transactions, Iran has continued to attract investment in its mining industry, particularly from domestic companies and joint ventures with partners from China and Russia. The government has prioritized value-added production, encouraging the establishment of processing plants to refine raw materials into finished products such as steel, aluminum, and copper.

Iran is home to some of the world's largest reserves of minerals, including zinc, copper, iron ore, and rare earth elements. The country ranks among the top producers of several key minerals and has been working to enhance exploration activities in untapped regions. Recently, officials announced new discoveries of gold reserves in West Azerbaijan Province, further boosting the country's mineral potential.

To support the sector’s growth, authorities have also focused on infrastructure improvements, including expanding rail and port facilities to facilitate the export of mineral products. The construction of new rail corridors linking major mining hubs to the Persian Gulf and Caspian Sea is expected to enhance trade opportunities, particularly with markets in Asia and Europe.

With ongoing projects and continued investment in modernizing its mining operations, Iran aims to solidify its position as a regional leader in mineral production while increasing self-sufficiency in industrial raw materials.

EF/MA