Mohammad Reza Bahraman told IRNA’s economic correspondent that a Brazilian delegation has recently visited Iran and discussed cooperation capacities with Iranian officials.
Brazilian and Iranian delegations exchanged reports on their respective countries’ geological structure, legislation on mining, and Brazil’s new approach to attract foreign investment in the sector, according to Bahraman.
He said that Brazil has auctioned over 200,000 mines over the last year, but a lack of attraction for investors has led the country to modify legislation in the area.
Iran and Brazil agreed to prepare a memorandum of understanding in technical issues, mining machinery, and investment, and to have bilateral meetings attended by government and parliamentary delegations, the Iranian official noted.
Brazil has great capacities in mining machinery production and the companies in this country have partnered with big brands in the US, Germany, and Japan, Bahraman added.
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