Jun 21, 2014, 2:53 PM
News Code: 2718839
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IMIDRO official lauds progress in nuclear talks

Tehran, June 21, IRNA - Head of Iran's Mines and Mining Industries Development and Renovation Organization (IMIDRO) said on Saturday that progress in Iran-5+1 nuclear talks can help the countries' economic boom.

Talking to IRNA, Mehdi Karbasian noted the importance of active presence of foreign investors in the countries' various industrial and mining sectors.

Referring to the incomparable economic potentials in Iran, he noted that ground is ready for presence of foreign investors particularly the Iranians residing abroad.

IMIDRO has prepared a plan for investing dlrs 1 billion in an iron ore concentrate and pelletizing projects and all investors are welcomed to invest there, Karbasian asserted.

The plan is aimed at producing five million tons of iron ore concentrate and five million tons of pellets per year at Sangan mine, located in northeastern province of Khorasan Razavi.

Sangan mine holds an estimated iron ore reserve of 1.2 billion tons. The project will come on stream by 2017.

Iran is among the 15 major mineral-rich countries of the world and exports its industrial and mineral products to 159 countries, including Iraq, China, the United Arab Emirates, India, and Afghanistan.