The mining, oil and gas sectors account for 29% of Iran’s GDP, says Amir Sabbagh, an official with the Iranian Mines and Mining Industries Development and Renovation Organization. According to Sabbagh, the imposition of sanctions against Iran over its nuclear program, the shying away of foreign investors from the country and the decline in oil prices prevented Iran from developing its industrial infrastructure in recent years, IRNA reported. Iran is currently the world’s 15th mineral-rich country and possesses the largest gas and fourth largest oil reserves worldwide.
