Economy, Business And Markets

Latin American States Explore Mining Opportunities in Tehran

Latam States Explore Mining Opportunities in TehranLatam States Explore Mining Opportunities in Tehran

The Iranian Mines and Mining Industries Development and Renovation Organization organized a forum in Tehran on Monday to survey opportunities of cooperation between Iran and Latin American countries in the mining sector.

It was attended by IMIDRO President Mehdi Karbasian, and representatives of Cuba, Brazil, Ecuador, Venezuela, Uruguay, Chile, Nicaragua, Bolivia and Mexico, company's website reported. 

According to Karbasian, considering Iran’s vast reserves of gas and Latin America’s rich deposits of minerals, the two sides can forge an effective partnership to produce high value-added products.

“Gold, iron ore, bauxite, copper, lead and zinc, chrome and nickel production are possible areas of mutual cooperation,” he said.

Karbasian was earlier quoted as saying that Iran needs investments worth $50 billion within the next five years to develop its mining sector. IMIDRO is Iran’s largest holding in the mining sector affiliated to the Ministry of Industries, Mining and Trade.

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