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Newsdeputy minister:IMIDRO launches projects worth $3b

deputy minister:IMIDRO launches projects worth $3b

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Iran's Mines and Mining Industries Development and Renovation Organization (IMIDRO) inaugurated projects valued at $3 billion in the year to March 2018, said the head of the organization.

Mehdi Karbasian, who is also a deputy minister of industry, mine and trade,  told IRNA that IMIDRO implemented steel, copper, sponge iron and pelletizing projects to prevent the sales of raw materials.

The official said IMIDRO has attracted private sector investment to the tune of $7.6 billion (based on the official exchange rate of the dollar posted by the Central Bank of Iran which is 42,000 rials against the greenback) since August 2013 to complete its projects.

Karbasian added that the organization has also produced aluminum, gold, steel, copper and iron ore powder, prepared the roadmap for the mining industry and handed over mining projects in cooperation with the private sector.

Iran's mines 400 million tons of minerals annually, of which 60 percent are construction materials.

During March 2017-January 2018, Iran exported more than 53.3 million tons of minerals and mining industries products valued at $7.5 billion.