TEHRAN - Iranian Mines and Mining Industries Development and Renovation Organization (IMIDRO) carried out mining excavation work on 102,000 square meters of land across the country in the past Iranian calendar year (ended on March 20, 2019), IRNA reported.

IMIDRO spent 974 billion rials (over $22.5 million) on the mentioned excavation operations which included exploration, identification and prospecting operations for iron ore, coal, bauxite, gold and copper.

Back in August, IMIDRO head had announced that exploration operations were started in 300,000 square meters of land across the country.

According to Khodadad Gharibpour, the country’s private sector has invested 11.3 trillion rials (about $269.04 million) in the mining sector since last December up to August.

“This amount of investment is a turning point in the private sector’s contribution to the development of the country’s mining industries,” Gharibpour said in an IMIDRO deputies meeting.

Earlier in October, head of Geological Survey and Mineral Explorations of Iran (GSI) also announced that 60 new areas were going to be opened and awarded to the private sector for mining exploration and excavation.

“In line with the organization’s new approach regarding the contribution of private sector in the country’s large-scale exploration activities, we are planning to award new areas for mining exploration, so that the private sector would be able to enter mining activities in a fair and transparent environment,” Alireza Shahidi said.

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