IMIDRO targets $30b mining investment to raise output, exports under SDP
The Iranian Mines & Mining Industries Development & Renovation Organization (IMIDRO) said the country aims to achieve a 13% growth in its mining sector under the Seventh Development Plan (SDP), outlining a $30-billion-investment program to complete mining projects, expand infrastructure, and secure energy supplies.
IMIDRO officials said that if the targets are met, the sector could generate an additional $15 billion in foreign exchange revenue, IRNA reported.
In the steel industry, Iran plans to expand capacity to 9.5 million tons of concentrate, 15.5 million tons of pellets, 15.1 million tons of sponge iron, 1.8 million tons of billets, 10.5 million tons of steel sheets, and 750,000 tons of rebar and coils. For copper, the program aims to produce up to 2.8 million tons of concentrate and 280,000 tons of cathode copper.
In aluminum, plans include establishing a one-million-ton alumina powder capacity, developing petroleum coke capacity, and activating Guinea’s bauxite mines.
IMIDRO also set a target to produce 3,290 kilograms of gold bullion under the new plan.
Officials have emphasized that the investments are part of Iran’s broader strategy to strengthen domestic mining production, develop value chains, and increase export revenue, highlighting the sector as a key driver of economic growth.