EghtesadOnline: Iranian Mines and Mining Industries Development and Renovation Organization invested 1.14 trillion rials ($27.2 million) in mineral exploration projects in the last fiscal (March 2017-18), according to Ali Asgharzadeh, the exploration project manager.
The figure is 6.1% higher compared to IMIDRO’s 1.08 trillion rials ($25.7 million) investment the year before. Asgharzadeh said the investments helped increase gold, coal, iron ore, antimony, rare earth elements, barite and bauxite reserves, IRNA reported. Iran is home to 68 types of minerals with over 37 billion tons of proven and 57 billion tons of potential reserves. IMIDRO, the largest state-owned mining holding company, started comprehensive exploration projects in 2013, in cooperation with the Ministry of Industries, Mining and Trade, and the Geological Survey of Iran, according to Financial Tribune.