TEHRAN- Based on a memorandum of understanding (MOU) signed between Iranian Mines and Mining Industries Development and Renovation Organization (IMIDRO) and the governorate of West Azarbaijan Province, in northwest of Iran, IMIDRO will make investment for development of mines in the province.

The MOU was signed by IMIDRO Head Khodadad Gharibpour, and West Azarbaijan Governor-General Mohammad-Mehdi Shahriari, according to it, conducting exploration activities, participation in large-scale mining projects, exploration of precious and semi-precious stones, construction of access roads and power supply network to a number of mines will be involved.

As previously announced by Parisa Abedpour, the deputy head of the province’s Industry, Mining and Trade Department for mines and mining industries, investment making in the mines of West Azarbaijan has increased 15 percent during the first half of the current Iranian calendar year (March 20-September 21).

According to Abedpour, exploration permits were issued for 19 zones during the six-month period of this year, indicating a 46-percent growth year on year.

In mid-October, the head of Geological Survey and Mineral Explorations of Iran (GSI) said 60 new areas are going to be opened and awarded to the private sector for mining exploration.

“In line with the organization’s new approach regarding the contribution of the 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 stated.

According to the official, the mentioned areas include some new sites which haven’t been opened for exploration before, as well as some sites in which information-gathering and prospecting operations have been already carried out and they will be handed over to domestic contractors.

“Existence of valuable minerals such as gold, copper, iron, lead, zinc and other rare minerals has been confirmed in these areas [those prospected] and necessary licenses and certifications for discovery are being issued,” Shahidi said.

Back in August, the head of Iranian Mines and Mining Industries Development and Renovation Organization 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 from 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.

MA/MA