68699
Over 5,700 mines are operating across the country.
Over 5,700 mines are operating across the country.

SCI: 48% Rise in Mining Investments

SCI: 48% Rise in Mining Investments

Over 29 trillion rials ($767 million) were invested in Iranian mines during the fiscal 2015-16, registering a 48% increase compared to the year before, the Statistical Center of Iran’s latest report shows.
According to deputy minister of industries, mining and trade, Mehdi Karbasian, the Iranian mining sector requires close to $50 billion in foreign investment.
“About $30 billion of the figure need to be invested in the steel industry and its downstream sectors, and the rest in copper, aluminum and other industries,” Karbasian, who is also the president of Iranian Mines and Mining Industries Development and Renovation Organization, said on the sidelines of the Second Iran Mines and Mining Industries Summit in December.
The SCI report’s other findings show declines in value added, number of mines, number of miners and exports during the period under review.
There was a 13.9% decrease in value added with Kerman Province, Yazd Province and East Azarbaijan Province generating the highest amounts at  33.585 trillion rials ($888.727 million), 16 trillion rials ($423.392 million) and 4.611 trillion rials ($122.016 million) respectively.
The number of mines and miners registered 2.6% (by 141) and 0.7% (by 658) of declines respectively.
Kerman Province with 23,917 miners, Yazd Province with 12,207 and Isfahan Province with 5,564 had the highest number of mine workers in the country.
According to the Ministry of Industries, Mining and Trade, over 5,700 mines are operating across the country, from which some 400 million tons of minerals are extracted.
SCI said about 434,900 tons of minerals worth more than 118 trillion rials ($3.122 billion) were produced in the fiscal 2015-16.
As for exports, the Iranian mining sector’s exports saw 12.2% and 33.6% declines in value and volume respectively year-on-year.

Short URL : https://goo.gl/ruw57C
  1. https://goo.gl/NnhiW5
  • https://goo.gl/VwEijr
  • https://goo.gl/wkDvQt
  • https://goo.gl/kih9h7
  • https://goo.gl/nb2PNW

You can also read ...

Top US Court Restricts Police on Cellphone Location Data
The US Supreme Court on Friday imposed limits on the ability...
Xiaomi’s Hong Kong IPO
Xiaomi, one of the world’s leading smartphone makers, is...
Mohammad Javad Zarif (4th L) addressed representatives of Iran Chamber of Commerce, Industries, Mines and Agriculture on June 24. (Photo: Bahareh Taghiabadi )
Foreign Minister Mohammad Javad Zarif assured the business...
TEDPIX Breaks Above 112,000 to Notch New High
Tehran Stock Exchange’s main index gained 2,659.33 points or 2...
Iran Explores Int’l Space Collaborations at UN Meeting
Officials with Iran Space Agency participated in the two-day...
CBI, Capital Market Agree to Control  Gold Coin Bull Run
As gold coin prices are skyrocketing, the Central Bank of Iran...
$1.5b in Tax Evasion Identified From Bank Accounts
About 63 trillion rials ($1.49 billion) worth of unpaid tax...
Experts believe the import ban would lead to a further rise in smuggling and market disruption.
The government has banned the import of 1,339 commodities...

Add new comment

Read our comment policy before posting your viewpoints

Trending

Googleplus