Economy, Business And Markets

Mine Discoveries Growing

Mine Discoveries GrowingMine Discoveries Growing

According to official statistics released by the ministry of industry, mine, and trade, 80 mine discovery certificates were issued during the 10th month of the current Iranian calendar year (December 22-January 20), indicating 3.9% growth compared to the previous month when 77 certificates were issued, IRNA reported.

Overall, 680 mine discovery certificates were issued during the 10-month period ending on January 20, indicating a meager 0.3% decline compared to the similar period last year, IRNA reported.

The report also suggests that 833 mining exploration permits were granted during 10-month period, recording a 42.2% decrease compared with the similar period last year when the figure stood at 1,441.

As per the Mining Act, mining exploration permits are issued by the industry ministry to allow exploration operations in a specified region, while the mine discovery certificates are issued once the exploration operation is over and mineral resources have been discovered.

In the previous Iranian year (ended March 20, 2014), there were 5,400 active mines in the country, from which 420 million tons of minerals were extracted, according to the ministry’s official report. The exploration operations over 7% of the country’s land have so far resulted in estimating mineral resources of almost 60 billion tons, 40 billion tons of which are proven.