Iran seeks to invest in mineral projects
Iranian Mines and Mining Industries Development and Renovation, known as IMIDRO, has drafted a plan on investing $1 billion in an iron ore concentrate and pelletizing projects.
The plan is aimed at producing five million tons of iron ore concentrate and five million tons of pellets per year at Sangan mine, located in northeastern province of Khorasan Razavi, IRNA news agency reported on June 16.
Sangan mine holds an estimated iron ore reserve of 1.2 billion tons. The project will come on stream by 2017.
Earlier, IMIDRO director Mehdi Karbasian invited South Korean companies to invest in Sangan iron ore production and pelletizing projects.
Iran is among 15 major mineral-rich countries of the world and exports its industrial and mineral products to 159 countries, including Iraq, China, the United Arab Emirates, India, and Afghanistan.
Here we are to serve you with news right now. It does not cost much, but worth your attention.
Choose to support open, independent, quality journalism and subscribe on a monthly basis.
By subscribing to our online newspaper, you can have full digital access to all news, analysis, and much more.
You can also follow AzerNEWS on Twitter @AzerNewsAz or Facebook @AzerNewsNewspaper
Thank you!