Mining Sector Share In GNP To Grow By 3%

Tehran, Oct 18 IRNA – Minister of Industry, Mines and Trade Mohammad Reza Nematzadeh said the share of mining sector in the GNP is one percent, adding that the figure can be increased to 3%. He told reporters on Friday that the issue of exploration in the mining sector stands as the first priority and noted that it is necessary to make intensive discoveries in this sector for a year and then focus the operation on exploitation and processing of the minerals. He stressed that the mining sector is the fundamental part for production programs of the country and said investment is welcomed in this sector. Nematzadeh called for further participation of the private sector and foreign investors in mineral industries and said today efforts should be made to take advantage of the value added. Iran, as one of the 10 leading mineral countries in the world, extracted 420 million tons of minerals from 5,400 active mines in the country last year. The 10th International Exhibition on Mining and Mining Industries kicked off in Tehran on Friday morning. Over 220 companies including 90 foreign firms from Australia, Italy, Germany, Belorussia, Taiwan, Turkey, China, Russia and Kazakhstan are attending the 3-day event. According to official sources, Iran holds 37 billion tons of proven reserves and more than 57 billion tons of potential reserves worth $770 billion in 2014./end