TEHRAN - Head of Iranian Mines and Mining Industries Development and Renovation Organization (IMIDRO) Vajihollah Jafari said his organization is going to form a joint working group with Cuba to explore ways of expanding cooperation in the mining sector.

As reported by the IMIDRO portal, Jafari made the remarks after a meeting with Cuba’s Minister of Energy and Mines Liván Arronte Cruz.

During this meeting, Jafari referred to the capacities of Iran's mining and mineral industries in both production and export sectors, saying: "After the formation of a joint working group, studies conducted on the mining and mineral industries of the two sides will be reviewed."

Later on, a group of Iranian experts will be dispatched to Cuba and based on the needs of the two countries, a memorandum of understanding will be signed and a roadmap for joint cooperation will be developed in accordance with the laws of the two countries, the IMIDRO head added.

Noting that Iran is pursuing a win-win policy in developing cooperation in the mining and mineral industries, the official said: “Iran can export technical-engineering services and technological knowledge in some mining industries to Cuba, and also help explore and extract minerals in this country.”

“Large companies in the Iranian steel industry also have the capacity to invest in Cuba. Our plan is to supply the minerals needed by our country through the investment in Cuba,” he said.

Cruz for his part, underlined his country’s significant mineral reserves including nickel, cobalt and iron ore and reiterated: “After exploring common areas of cooperation, a group of Iranian specialists and experts will travel to Cuba to review existing capacities and visit a nickel plant.”

He also expressed his country’s willingness to benefit from Iranian experiences and investment for renewing and modernizing Cuba’s cobalt mines.

The official also called on the Iranian side for the transfer of technical and engineering knowledge in the field of mineral extraction and production from the Islamic Republic to his country.

EF/MA