Minews - Iran Ups Mining Activities in Nine-Month Period of March-November 2014

(Minews) - Iran's mining sector hit new records in various fields in the first nine months of the current Iranian calendar year (March 21- November 22) in comparison with the same period last year.

Iran's explorations rose by two to four times during the nine months comparing to similar period last year.

The country's excavation rose by 264 percent, sampling by 415 percent, and geophysical activities by 291 percent.

Iran has raised its iron ore reserves by 90mln tons and its coal reserves to 120mln tons. The explorations near Iran's Zarshouran Gold mine, West Azerbaijan Province, Northwestern Iran, rose the mine's reserves from 89 to 108 tons.

Iran is one of the most important mineral producers in the world, ranked among 15 major mineral-rich countries, holding some 68 types of minerals, 37bln tons of proven reserves and more than 57bln tons of potential reserves.

The most important mines in Iran include coal, metallic minerals, sand and gravel, chemical minerals and salt.

In October, Iranian Deputy Minister of Industries, Mines and Trade Mehdi Karbasian announced that the country has paved the way for attracting more investments in its mining and mineral industries, and called on domestic and foreign investors to seize the current opportunities to expand their partnership in the lucrative sector.

"Today (Iranian) President (Hassan) Rouhani's government welcomes foreign investment and partnership of companies in the mining and mineral industries sector of Iran," Karbasian said, addressing the opening ceremony of the Third Conference and Exhibition on Investment Opportunities in Iran's Mining and Mineral Industries.

He noted that forecasts indicate a boom in the world's economy in 2015, which in turn would increase the need to minerals in the international markets, "hence such conditions can positively influence Iran's economy".

Karbasian called on Iran's private sector to play a more active role in the development of the country's mining sector, and said, "The private sector will enjoy the government's support accordingly."