Iran to Expand Mining Industry, an Industrial Info Market Brief

Iran has approved 31 foreign-investment mining projects with a total value of $712 million, as part of its Sixth Five-Year Development Plan (2017-22), which will attract $3 billion in foreign investment annually.

The bulk of the investments will be via Iranian Mines and Mining Industries Development and Renovation Organization (IMIDRO), the leading state-owned holding company in Iran's mining sector, which is planning to boost its copper concentrate output at its Sarcheshmeh Copper Complex from the current 600,000 tons to more than 1 million tons by 2022, among other investments in the region. IMIDRO, through a subsidiary, operates several other copper mines in Iran.

Industrial Info is tracking 110 projects worth $12.87 billion in Iran's mining sector. Click here for a list of projects. Click image below for a larger view of planned spending by Metals & Minerals sector.