Chinese investment in mining sector increased; official
Head of Mines and Mineral Industries Commission of Iran Chamber of Commerce says “Chinese investment in Iran's mines has increased, but we do not have exact statistics on this amount.”
Bahram Shakoori said in an exclusive interview with ILNA news agency that with the signing of a 25-year strategic agreement, the mining sector could also be one of the industries in which Chinese investment increases.
China’s CITIC Group Corporation has expressed readiness to provide Iran with $10 billion of financing, mostly in the mining sector, announced a top official with the Chinese company in September.
According to reports, the Chinese government is expected to issue the required permits by the end of this year and the financing process will start in 2017, the Chinese official was quoted as saying by IMIDRO’s news portal.
In another interview with ILNA news agency, Shakoori said that by Biden’s presidency and his return to the JCPOA the ground is paved, some of the European, Asian, and other countries are keen to invest in Iran’s mining and mineral industries sector because this is an attractive sector for investors.
“Now almost 2.5 percent of the country is active in the mining sector and it can increase to 100 percent and if it happens, the country will have no need for oil revenues.
The value of Iran’s exports from mining industry stood at $3.049 billion in the first seven months of the current Iranian calendar year (March 20-October 21), according to the data released by Iranian Mines and Mining Industries Development and Renovation Organization (IMIDRO).
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