IMIDRO’s Mining Investments to Reach $2.2b in Fiscal 2020-21

Investments of state-owned Iranian Mines and Mining Industries Development and Renovation Organization and its subsidiaries in mining projects will reach $2.2 billion in the current Iranian year (ending March 20), in line with plans for boosting Iran's production capacity, IMIDRO announced in a report published on its website.
“IMIDRO will have invested $11.6 billion in the development of the high-potential mining sector, from the beginning of President Hassan Rouhani's first term in office in August 2013 up to the end of fiscal 2020-21. This is while the country has been struggling with the impacts of the US government's unilateral withdrawal from the landmark 2015 nuclear agreement and reimposition of sanctions.”
As a major state-owned holding company, IMIDRO has eight major companies and 55 subsidiaries involved in the steel, aluminum, copper, cement and mineral sectors. Among its subsidiaries are the National Iranian Steel Company, National Iranian Copper Industries Company, South Aluminum Company and the Iran Minerals Production and Supply Company.