BAKU, Azerbaijan, May 25. The funds saved on the production of equipment, machinery, and spare parts in Iran's mining sector increased by 56 percent in the last Iranian year (from March 21, 2023, through March 19, 2024) compared to the previous year (from March 21, 2022, through March 20, 2023), an official at Iran's Mining and Mines Development and Modernization Organization (IMIDRO) Hassan Younesian said, Trend reports.
According to him, in the last Iranian year, $838 million was saved in Iran's mining industry through the production of various equipment, instruments, and spare parts.
Younesian noted that in the previous year, when equipment, appliances, and spare parts were produced domestically, the figure was $536 million.
"IMIDRO focuses on domestic production of various equipment, installations, and spare parts, with an emphasis on local production. A total of 19 mining companies in the country have participated in the program to produce equipment, plants, and spare parts domestically," he noted.
The official stated that IMIDRO has developed various programs to save foreign exchange through local production. This program includes equipment, plants, various mining machinery, raw materials, and more.
Meanwhile, Iran has about 12,000 mines. It is reported that the mine reserves in Iran are more than 50 billion tons. Production from mines in Iran averages more than 400 million tons per year.
Due to the sanctions that the US has imposed on the country, Iran is striving to become self-sufficient in many areas.
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