Record 600 mines revived in Iran last year: IMIDRO
A senior official from the Iranian Mines and Mining Industries Development and Renovation announced that in the last Iranian calendar year 1403 (began on March 20, 2024) nearly 600 mines were revived, activated, or developed, which “represents the highest figure in mine revitalization."
The head of IMIDRO's Board of Directors, Mohammad Aqajanlu, mad the announcement on Sunday, adding that based on the performance of the small-scale mine revitalization, activation, and development plan, from its inception (2018) until the end of last Iranian year, 2,373 small-scale mines were revived, and developed, IRNA reported.
The deputy minister of Industry, Mine, and Trade added that of the number, 594 mines pertained to the year 1403.
Given the target program (150 mines), the move resulted in a 296% increase in the performance of the small-scale mine revitalization, and development plan.
This is while during the year 1402, the number of revived, and developed mines was 493.
Reporting a 20% growth in last year's performance compared to the year 1402, the head of IMIDRO's Board of Directors stated that the performance of the year 1403 shows that 96 investment packages were introduced under the small-scale mine revitalization, activation, and development plan.
Furthermore, in the winter of that year, five tender winners were identified with the aim of preparing feasibility studies to complete the value chain.
Iran Mineral Processing and Production Company (IMPASCO), a subsidiary company of IMIDRO, acts as the executor and coordinator of the small-scale mine revitalization and activation plan.
Iran’s diverse mineral reserves are considered a national treasure. According to Alireza Shahidi, chairman of the Board of Directors of Iran Mineral Production and Supply Company, announcing at a mining exhibition in May, “Iran boasts diverse mineral resources, with 81 types of minerals.”
The country is the 15th-largest mineral-rich country globally, and Iranian officials call mining the backbone of industrial development and say it should replace oil as the primary revenue generator.
However, at the exhibition in May, Abbas Taqdisinejad, CEO of Shahr-e Aftab Exhibition Center, criticized the failure in achieving the goal, stating, “While 26% of Iran’s exports come from minerals, the sector has grown only 1–2% annually in recent years.”
Citing outdated equipment and underutilized domestic and foreign investment potential, he stated, “The 7th Development Plan forecasts 13% growth for mining. Achieving this requires greater coordination among stakeholders to attract investment.”