Tehran, Iran, Feb. 25
Trend:
Iran’s mining sector needs more than 400 kilometers of railways each year to transfer mineral products and for exports to reach the 2021 development plan.
“The mining sector requires creation of more than 400 kilometers of railways annually according to Iran’s Sixth Five-Year Development Plan (2016-2021),” said Khodadad Gharibpour, head of the Iranian Mines & Mining Industries Development & Renovation, (IMIDRO), Trend reports citing IRNA.
Referring to the return of export revenues from the mining sector, he said, “The mining sector has a good cooperation with the Central Bank of Iran and issues its weekly statistics.”
“The mining and mineral sectors require equipment and raw material imports, and under a Central Bank of Iran agreement, a portion of the foreign currency revenues are dedicated to provide the imports and the sector’s needs,” he said.
Reza Rahmani, Iran’s minister of industries, mines and trade, has recently stated the mining sector’s exports are worth more than 10 million euros and exporters should return 90 percent of their earned foreign currency to the NIMA system.
The Central Bank of Iran has approved an instruction for reintroducing hard currency revenues into the economic cycle. The exporters whose exports value 1 million to 3 million euros should return 50 percent of their foreign currency to the NIMA system, while exporters with more than 3 million euros of revenues should return 70 percent and more than 10 million euros of revenues should bring back 90 percent to the system.