14498
IMIDRO to Unveil Bafq REE Project
Economy, Business And Markets

IMIDRO to Unveil Bafq REE Project

The Iranian Mines and Mining Industries Development and Renovation Organization (IMIDRO) says it will unveil a top-priority plan in the central town of Bafq in Yazd Province to extract and produce rare earth elements (REE’s).
The IMIDRO head, Mehdi Karbasian, said his organization has given priority to the investment in REEs sector, the development of which has been ignored for many years. According to Karbasian, also the deputy minister of industry, mine and trade, the production of minerals such as iron ore, coal will be replaced with developing and processing the REEs, which could generate far more value added.
“The REEs have much greater potential than coal and iron ore to generate revenue and they are more economical to produce”, IRNA quoted Karbasian as saying.
Rare earth elements include 15 elements such as lanthanides (cerium, neodymium, samarium, promethium, lanthanum, gadolinium, and erbium) as well as scandium and yttrium, all of which are widely used in high-tech industries. Some REEs cost up to $7,000 per kilogram.
Meanwhile, some experts believe independent exploration of the REEs is not economical and that the exploration of such valuable elements should be done simultaneously with exploring other minerals.

Short URL : http://goo.gl/xxvfrA

You can also read ...

Europe May Tap Cryptocurrencies to Shield Iran Against US Sanctions
The European Union may opt for digital currencies in its...
Iran’s net hot-rolled coil consumption was 5.6 million tons in 2017, of which 0.8 million tons were imported.
Russia and Kazakhstan are temporarily stepping back on sales...
Secondary Forex Market: Corruption Loopholes Abound
Two goals set have been set for the recent establishment of...
EU foreign policy chief, Federica Mogherini, hailed the imposition of the blocking statute on Monday as a “consistent step forward”.
As it races to save the Iran nuclear deal, the European Union...
Deputy Economy Minister Defends Gov’t Forex Policy
The government’s policy to allocate dollars and euros to...
Colza Production Exceeds Expectations
The government has purchased more than 300,000 tons of colza...
Plastic Production Plant Launched in Chabahar
A factory producing different kinds of plastic products was...
Interbank Rate Tweak to Impact Interest Rates
Officials at the Central Bank of Iran have announced the...

Trending

Googleplus