Economy, Business And Markets

Mineral Explorations by IMPASCO at Record High

Mineral Explorations by IMPASCO at Record HighMineral Explorations by IMPASCO at Record High

Mineral explorations carried out by Iran Minerals Production and Supply Company during the last Iranian year (ended March 20) led to the discovery of more than 150 million tons of iron ore and 200 million tons of coal, says IMPASCO’s managing director, Vajihollah Jafari.

The explorations by IMPASCO–a subsidiary of the Iranian Mines and Mining Industries Development and Renovation Organization-increased substantially over the period, registering a record high of 85,000 meters in drilling operations, IRNA quoted jafari as saying.

According to the official, IMPASCO acts as the executive arm of IMIDRO–itself the country’s major state-owned holding company in the mining sector.

Over the past two years, IMPASCO has been utilizing the private sector’s capital and capabilities to reactivate abandoned mineral projects, including a potassium facility in Khor-Biabanak County in Isfahan Province and a tar refinery in Zarand County in the southeastern province of Kerman.

Setting up a semi-industrial facility to extract rare earth elements, including lanthanum and cerium concentrates, is among other activities carried out by IMPASCO, Jafari added.