BAKU, Azerbaijan, December 12. A total of 6 trillion rials (about $12.3 million) will be spent on the construction of a phosphoric acid plant in Kohgiluyeh and Boyer-Ahmad provinces in southwestern Iran, Iran's Deputy Minister of Industry, Mines and Trade and Chairman of the Organization for Development and Renovation of Mines and Mining Industries, Mohammad Aghajanlu told reporters, Trend reports.
According to him, this plant will be built through Ghadir Investment Company's investment.
Aghajanlu stated that IMIDRO has conducted a series of studies in the field of non-metal mines in Kohgiluyeh and Boyer-Ahmad provinces in Iran, resulting in the identification of areas with minerals.
The deputy minister noted that 30 trillion rials (about $61.8 million) could be invested in the development of mines in the province. This will lead to an increase in mineral production as well as the labor force in the province.
Meanwhile, during the eight months of the current Iranian year (from March 20 through November 2024), Iran's Mines and Mining Industries Development and Renovation Organization (IMIDRO) has invested about 27.8 trillion rials (about $58.2 million) in mineral exploration.
To note, Iran has nearly 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.