IRNA – Implementing incomplete projects is among the priorities of the Iranian Mines and Mining Industries Development and Renovation Organization (IMIDRO), said the head of the organization’s board of directors.
Khodadad Gharibpour noted that initially, the organization’s priorities need to be identified, adding, “Today, our priority is given to completing the projects that are [currently] under implementation.”
He underlined that project managers and company directors are responsible for resolving the current problems and following up the process to achieve the desired results.
‘IMIDRO will only step in when necessary,’ Gharibpour added.
“At present, we are facing a financial bottleneck. Helping the launched projects operate at full (nominal) capacity will be among our most important moves. Although [unilateral US sanctions] have put partial pressure on our efforts to finance [projects] and purchase equipment, we can still prevent a hike in such costs by diversifying our purchasing models.”
On May 8, 2018, US President Donald Trump pulled Washington out of the Joint Comprehensive Plan of Action, signed between Iran and P5+1 in July 2015, and re-imposed the unilateral sanctions in two phases — both already in place — on Tehran.
Gharibpour stressed that IMIDRO has organized a financial committee to meet the requirements of domestic projects and production units.
He said in a meeting with Iran’s Economic Affairs and Finance Minister Farhad Dejpasand that the domestic mining sector is capable of attracting part of the $380.95-billion liquidity available in the country.