TEHRAN – Iran requires about €55 billion (around $59 billion) in new investment to achieve its planned 13 percent growth target for the mining sector under the 7th National Development Plan, the head of the Iran Mine House said.

Mohammad Reza Bahraman, speaking at a press conference ahead of the 19th Iran ConMine Exhibition on mining, mineral industries, machinery and related equipment, emphasized the importance of joint investment frameworks with neighboring countries to boost development in the sector.

He said the mining industry must explore new markets to ensure its long-term sustainability, calling for closer cooperation between government and private stakeholders.

“For the mining sector to thrive, policy and economy must work hand in hand,” Bahraman noted.

EF/MA