Economy, Business And Markets

Iran's Biggest Mining Holding Elaborates on Track Record

Head of IMIDRO
Iran's Biggest Mining Holding Elaborates on Track Record
Iran's Biggest Mining Holding Elaborates on Track Record

Iranian Mines & Mining Industries Development & Renovation, as a dynamic organization, has successfully overcome the management crisis and dealt appropriately with the decline in global demand in recent years.

Now the organization has an opportunity to learn from the past and prepare for the future. There is no denying that IMIDRO has not been efficient enough in the past due largely to several unfinished projects.

However, the organization has adopted a new development approach from mid-2013. With the participation of the private sector, the projects on hold became operational and new plans have been outlined for the future of mines and mining industries.

The measures undertaken by IMIDRO soon after the government took office in 2013 was consistent with the Resistance Economy. Although the organization faced some financial constraints, it managed to revive more than 30 development projects that had been suspended in the steel, iron ore, coal, gold, aluminum and copper sectors.

IMIDRO has made known its commitment to lead the mines and mining industry toward development and growth.

The development and implementation of a 250,000-square-km exploration plan was fraught with difficulties, but the organization rose to the occasion. The related project now supplies raw materials for mining development projects.

Thanks to this project, in addition to a significant increase in mineral reserves of the country, valuable rare earth elements were explored. Soon after, we witnessed the production of the first ingots of rare earth at the Iranian Mineral Processing Research Center in 2015.

Likewise, in the preceding year, by exporting more than 4 million tons of steel, the organization set a record for the export of this metal and helped calm fears related to the steel industry.

As recommended by the Leader Ayatollah Seyyed Ali Khamenei, the organization is in the process of turning domestic products and raw materials into higher value-added exports and do its fair share in strengthening the economy.

IMIDRO is also committed to the development of mining industries, particularly on the southern coasts of the country. As these areas are in close proximity to both the sea and gas resources, they have the advantage of importing raw materials and exporting manufactured goods.

Meanwhile, attracting foreign investment in these areas makes financing and implementing infrastructure projects feasible. Companies that in the past were uninterested in cooperating with Iran are now enthusiastic in joint ventures with Iranian parties, thanks to the efforts of President Hassan Rouhani’s administration.

Signing 30 international MoUs in the past three years was the first step forward in developing relations with the world.

Needless to say, local private companies are the main driving force and IMIDRO partners on this path are contributing to the development of mines and mining industries as well as transfer of technical knowhow to the country.

President Rouhani’s visit to Italy and France was a turning point in cooperation in the steel and aluminum industries and insurance coverage with major western companies. IMIDRO and Danieli of Italy are to start cooperation as a joint venture (Persian Metallics) to augment Iran’s steel industry.

In 2015, IMIDRO took major steps in the area of research and training, and started an extensive program to speed up modern mining methods all over the country. The program seeks to improve the knowledge of domestic companies dependent on local and overseas experts.

The efforts made by the organization was acknowledged by Minister of Industries, Mining and Trade Mohammad Reza Nematzadeh who honored the organization by proclaiming it as the “Top Exporter of 2015” and “Top Organization” on the National Day of Mines and Industry.

I’m of the opinion that these rewards reflect the measures undertaken by IMIDRO in three years of the “Prudence and Hope” government.


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