Economy, Business And Markets

IMIDRO Calls on Private Sector

IMIDRO Calls on Private Sector IMIDRO Calls on Private Sector

Exploration and exploitation of mineral-rich zones across the country will be handed over to the private sector, says director general of Mineral Exploration Department of Iranian Mines and Mining Industries Development and Renovation Organization, Ali Asgharzadeh. According to the official, $367.6 million are required to fully exploit the 240,000-square-kilometer mineral-rich zones, of which only $161.7 million are provided by IMIDRO, and the rest is to be funded by the private sector. Asgharzadeh noted that private sector investors will be provided with all the necessary information about the mineral zones, IRNA reported. Based on the 20-Year National Vision Plan (2005-25), annual production capacity of steel, aluminum and copper cathode is to reach 55 million, 1.5 million and 800,000 tons respectively from the current 24 million, 460,000 and 255,000 tons.