• Agreements expected to be signed during president’s European visits
  • Iran has largest mining sector in Middle East

Iran plans to tender 15 mining and metals projects within the next four months, according to the Ministry of Industry, Mines and Trade.

The project include the production of iron ore, steel chromite, aluminium, bauxite, copper, zinc and gold, Deputy Industry, Mines and Trade Minister Mehdi Karbasian said, according to Iran’s Press TV.

Agreements are expected to be sign when Iranian President Hassan Rouhani visits France and Italy in November, the minister said.

The state-owned Iranian Mining Industries Development & Renovation Organisation (IMIDRO), which was set up under the Centralisation of Industrial & Mining Activities Act of 2002, has the role of developing the country’s mining sector and promoting investment in it from both the domestic private sector and foreign investors.

Iran has the largest mining sector in the Middle East and, even in the face of international sanctions, which have undermined the effectiveness of the industry, the country is still a major player in global terms.

IMIDRO points out that Iran has 1 per cent of the world’s population but 7 per cent of the global proven reserves of minerals, or 37 billion tonnes.