IMIDRO: Foreign investment deals guarantee machinery manufacturing
The head of the Iranian Mines & Mining Industries Development and Renovation Organization (IMIDRO) placed a premium on ongoing negotiations and agreements with foreign companies aimed at securing financing and foreign investment.
"Foreign investment will be operationalized in the near future through collaboration with domestic contractors," Mohammad Aqajanloo said on Monday, as reported by IRNA.
Addressing the National Mining Day commemoration ceremony in Tehran, attended by the minister of Industry, Mine, and Trade, Aqajanloo emphasized, "Foreign partners will prioritize the production of next-generation, high-capacity mining machinery by selecting Iranian contractors."
He also highlighted IMIDRO’s support for domestic manufacturing and mining equipment over the past two years, adding, "The Mining Activities Insurance Fund has played a significant role in this support, while streamlined import permit approvals have also been facilitated."
The deputy minister of Industry, Mine, and Trade addressed the composition of imported machinery, noting, "Over the past two years, both new and used machinery have entered the country, though second-hand equipment has dominated imports."
Aqajanloo identified productivity as the key driver behind the mining sector’s 13% growth, stating, "45% of the growth stems from productivity gains, partly achievable through modernized equipment. Continuing with outdated machinery or fluctuating fuel prices lacks economic viability."
The deputy minister linked enhanced mining productivity to technological advancement and digital transformation, explaining, "IMIDRO is collaborating with the Ministry of Communications to expand fiber-optic infrastructure and interconnect mining data hubs. Coordination with the vice president for science and technology has also been established." He further announced support for knowledge-based companies and partnerships with universities to identify and develop cutting-edge mining technologies.
"Three pilot mines — an open-pit, an underground, and a processing site — have been selected for smart mining integration," he said, adding, "If successful, this model will be expanded to other mines nationwide."
The IMIDRO chairman also outlined plans to transfer 270 exploration licenses through regional and provincial packages.
Seven-fold hike in exploration
Meanwhile, Dariush Esmaeili, head of the Geological Survey of Iran, announced at the National Mining Day event, "Under the minister’s directives, exploration services will expand to 6–7 times historical levels this Iranian calendar year (began on March 20, 2025) through private sector collaboration."
"Our strategic focus maximizes private sector capacity in both service delivery and exploration investment, supported by comprehensive planning," he emphasized.
Esmaeili added, "Addressing geological risks — including water resources, earthquakes, subsidence, dust storms, and other challenges — remains a core governmental mandate of this organization."