Economy, Domestic Economy

Mineral Exploration, Production on the Rise

Mineral Exploration, Production on  the RiseMineral Exploration, Production on  the Rise

The Ministry of Industries, Mining and Trade issued 498 mineral exploration and 527 mineral production permits during the eight months to November 20. The figures show a 5.6% and 8.7% growth respectively compared with last year’s corresponding period, IRNA reported. According to the ministry, there are over 5,400 active mines in Iran, from which close to 400 million tons of minerals are extracted every year. Iran is home to 68 types of minerals with more than 40 billion tons of proven reserves and 60 billion tons of potential reserves. According to the United States Geological Survey, Iran holds the world’s largest zinc, ninth largest copper, 10th largest iron ore, fifth largest gypsum and barite and 10th largest uranium reserves. Overall, Iran is home to more than 7% of global mineral reserves.

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