(Minews) - Several companies from as many as 16 countries are eager to invest in Iran’s mining sector, according to a report.
There were many applications for co-operation from German, Danish, Krygyz and Indian companies, besides Oman and Kuwait, said the Iran Daily report.
Companies from Australia, Switzerland, Spain, Belgium, Canada, Britain, France and South Korea have expressed interest in the country’s industrial and mining sectors, while Chinese and Russian firms are already active there, Mehdi Karbasian, the head of Iranian Mines and Mining Industries Development and Renovation (Imidro) were quoted as saying.
“These companies have started talks (with Iran) after the new government took office,” he said.
The foreign investors seek to create joint ventures with Iran in mining iron, copper, gold and coal.
"A country like Germany wants to invest in copper and steel, and supply equipment and machinery to Iran. Indian and Australian multinational companies are more keen on the mining sector," Karbasian noted.
Karbasian further pointed out that France seeks to co-operate with Iran in "setting up factories and providing machineries.”
"Therefore IMIDRO wants to attract foreign investors to compensate the shortcomings of past years. In line with this, the laws are geared to attracting foreign investors," he said.
He also rejected that the precondition for investment by foreign companies is the final nuclear deal between Iran and the P5+1.
The foreign investment in Iran will increase once the sanctions are removed following the deal, said the report.
Meanwhile, the Imidro is planning to hold an international conference in June in Tehran to showcase the capacities of Iran’s mining sector and present investment prospects for foreign and domestic investors, said the report.
The regulations for foreign investors 'are suitable' and the main obstacles to investment in the country are ‘the sanctions and transfer of money that we hope will be resolved very soon,’ it added.
