Iran Welcomes Foreign Investments In Mining Sector

Tehran, June 16, IRNA – Head of Iranian Mines and Mining Industries Development and Renovation Organization (IMIDRO) Mehdi Karbasian said here on Monday that Iran welcomes foreign companiesˈ investments in production of Iron ore concentrate by late June, 2014. Speaking to IRNA, Karbasian stressed that IMIDRO is preparing the ground for the foreign companies to make investment in Sangan mine in northeastern province of Khorasan Razavi. According to Iranˈs 20-year economic vision plan, the countryˈs steel production capacity should hit 55 million tons. Sangan mine containing huge iron ore reserves is located 300 km southeast of the holy city of Mashad, in Khorasan Razavi province./end