Mining Development Projects Worth $1.6b Come on Stream

EghtesadOnline: Major mining development projects with an investment of $1.6 billion were inaugurated by President Hassan Rouhani via videoconference in Kerman Province on July 8.

News ID: ۷۸۶۶۴۰

10 July 2021

The projects handled by the Middle East Mines and Mineral Industries Development Holding Company include a steel complex and a coke dry quenching (CDQ) system for Zarand Iranian Steel Company (ZISCO), a cathode production unit for Iranian Babak Copper Company, a lime and dolomite production complex for Middle East Mines Renovation and Development Company and the installation of industrial machines in Middle East Industry Efficient Productive Company, IRNA reported.

More than 4,000 jobs have been created by these projects.

The mega project of ZISCO steel complex include sintering, oxygen production, a blast furnace and a steel ingot production unit with a capacity of 1.7 million tons per year.

CDQ is a heat recovery system to cool the hot coke from ovens by inserting gas and the resulting steam produced in a waste heat recovery boiler is used to generate electricity. It is one of the most energy-efficient and environmentally-friendly facilities used in steel production.

Iran’s mineral reserves currently stand at around 60 billion tons, more than half of which are proven. The country is home to 68 types of minerals.

According to the United States Geological Survey, Iran holds the world's largest zinc, ninth largest copper, 10th largest iron ore, fifth largest gypsum and barite, and 10th largest uranium reserves.

Overall, Iran is home to more than 7% of global mineral reserves.

It is the 10th biggest producer of steel in the world.

Out of 10,170 mines in Iran, 6,861 are active and 3,309 are inactive, according to the latest data announced by Statistics Center of Iran.

From the 6,861 active mines, 6,449 mines were engaged only in production activities, 289 mines were in production and exploration, and 123 in production activities while being equipped.

Of the 3,309 inactive mines, 289 were only being equipped, 60 mines had less than 30 days of operation, 513 mines had been permanently closed, 208 were temporarily closed and 430 had other reasons behind their inactivity.

Mine blockage, market stagnation, lack of license and legal and environmental problems were the most common causes of closure.

Statistics were collected from Feb. 19 to May 1, IRNA reported.