BAKU, Azerbaijan, November 5. Iran requires an investment of $30 billion to achieve a 13 percent growth in its mining sector by 2029, said Somayeh Kholusi, the deputy head of the Iranian Mines and Mining Industries Development and Renovation Organization (IMIDRO), Trend reports.
Speaking at a meeting with members of the Iranian Parliament’s Industry and Mines Committee, Kholusi noted that if the mentioned level of investment is realized, the country’s foreign currency revenues could increase by an additional $15 billion annually.
She added that growing interest in mining investments has led to a 24 percent rise in the sector’s market value. The current production value of the mining sector stands at $35 billion, while exports of mining products have exceeded $13 billion.
According to her, during the previous Iranian year (from March 20, 2024, through March 20, 2025), mining projects worth $3 billion were completed and put into operation. In the current year (from March 21, 2025, through March 20, 2026), the goal is to commission facilities worth $2.9 billion.
Over the past 11 years (from March 21, 2013, through March 19, 2024), more than 3 million meters of exploration drilling were carried out through expenditures amounting to 100 trillion rials (about $174 million).
Iran has around 12,000 mines, with total mineral reserves estimated to exceed 50 billion tons. The country’s annual extraction volume averages over 400 million tons.
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