(Minews) - Iran’s Industry, Mines and Trade Ministry is coordinating plans for the presence of international investors in the country’s mine and steel projects, Mehdi Karbasian, told Mehr news agency on Saturday.
“Accordingly, a delegation of French investors will travel to Iran to hold talks with IMIDRO (Iranian Mines and Mining Industries Development and Renovation Organization),” he said.
“A broad spectrum of mining and steel projects will be presented to these investors, so that they can participate in these projects as joint ventures with Iranians,” he added.
Meanwhile, giant French automakers Renault and PSA Peugeot Citroen and energy company Total are other French businesses eying a return to Iran which had long been considered a major market for the two car manufacturers.
Karbasian noted that Iran is currently in the process of concluding agreements with investors for its key steel production plans, which ushers in a significant leap in the implementation of national steel and mining projects.
Last year, Iran’s Industry, Mines and Trade Ministry invited representatives of foreign countries twice to meet with officials and experts in the country’s mining sector in an attempt to encourage foreign investors to enter the Iranian market.
According to international figures, Iran has some 68 types of minerals with over 37 billion tons of proven reserves and more than 57 billion tons of potential deposits.
With just a little more than one percent of the world's population, Iran holds more than 7 percent of the total global mineral reserves. The country stands first in Zinc, 9th in copper, 9th in Iron, 10th in uranium and 11th in lead reserves in the world.
