Latin American States Explore Mining Opportunities in Tehran

EghtesadOnline: The Iranian Mines and Mining Industries Development and Renovation Organization organized a forum in Tehran on Monday to survey opportunities of cooperation between Iran and Latin American countries in the mining sector.

News ID: ۷۷۶۲۵۰

16 May 2017

It was attended by IMIDRO President Mehdi Karbasian, and representatives of Cuba, Brazil, Ecuador, Venezuela, Uruguay, Chile, Nicaragua, Bolivia and Mexico, company's website reported.

According to Karbasian, considering Iran’s vast reserves of gas and Latin America’s rich deposits of minerals, the two sides can forge an effective partnership to produce high value-added products.

“Gold, iron ore, bauxite, copper, lead and zinc, chrome and nickel production are possible areas of mutual cooperation,” Financial Tribune quoted him as saying.

Karbasian was earlier quoted as saying that Iran needs investments worth $50 billion within the next five years to develop its mining sector. IMIDRO is Iran’s largest holding in the mining sector affiliated to the Ministry of Industries, Mining and Trade.