Speaker urges attracting foreign investment in Iran’s mining industry

Tasnim – Speaker of Iran’s Parliament Ali Larijani called for accelerated efforts to attract foreign investment and new technologies in the country’s mining sector, saying such a lucrative industry should find export markets as well.

Addressing a Sunday meeting of a parliamentary group in Tehran, Larijani stressed the need for “accelerated” efforts to attract foreign investment in Iran’s mining industry in order to get advantage of modern technologies.

The opportunity provided by the removal of anti-Iran sanctions under the Joint Comprehensive Plan of Action (JCPOA) should be seized, he underscored.

Hailing a new version of contracts drawn up for the mining business in Iran, Larijani said the Parliament will also provide support if necessary.

There has been growing enthusiasm for industrial cooperation with Iran since implementation of the JCPOA, a nuclear deal between Tehran and the Group 5+1 (Russia, China, the US, Britain, France and Germany) in January 2016.

Last month, the Iranian Mines and Mining Industries Development and Renovation Organization (IMIDRO) signed an agreement with the Czech Republic to boost cooperation in the mining industry.

Iran is believed to hold more than seven percent of the world’s total mineral reserves.