0717 GMT January 17, 2021
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By Sadeq Dehqan & Reza Abesh Ahmadlou
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The production of six major mining industry products increased by an average of 16 percent in the nine months to December 20, 2020, according to the latest data released by Iran’s Industry, Mine, and Trade Ministry.
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Investment in mining industries including small- and medium-sized mines will provide the basis for export prosperity, said the director of investment development and international cooperation of the Iranian Mines and Mining Industries Development and Renovation Organization (IMIDRO).
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A sum of 70 mining licenses were issued in the central province of Isfahan for exploration and mining operations since the beginning of the current Iranian year (March 20), announced the head of Isfahan Province’s Industry, Mine and Trade Department.
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Iranian and Australian officials held a meeting in Tehran on Saturday to discuss the expansion of mining cooperation between the two countries.
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The mining necessary for producing renewable energy could exacerbate threats to biodiversity, researchers have found.
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Iran is an energy superpower, holding the world’s largest reserves of oil and gas combined. Oil has been the primary source of foreign currency for decades which, on the flip side, has relegated other industries to the fringes.
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Iran Mining Engineering Organization (IMEO) has signed a memorandum of understanding with the Russian Export Center (REC) for expanding cooperation in engineering and mining areas.
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A total of 72,250 industrial and mining units are operating in Iran, according to statistics released by the Ministry of Industry, Mine and Trade.
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Domestic Economy Desk
The Iranian Mines and Mining Industries Development and Renovation Organization (IMIDRO) plans to complete and open projects worth $2.2 billion in the domestic mining sector by the end of the current Iranian calendar year (March 2021) in cooperation with the private companies.
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Total foreign investments in Iran’s industrial, mining and trade projects during March 20-May 20 indicate a year-on-year growth of 5.4 percent.
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Iran’s Mining Investment Insurance Corporation (MIIC) will allocate over $714.2 million for supporting mining exploration projects, said Darioush Esmaili, a deputy industry, mine and trade minister.
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The Iranian mining sector has seen a significant surge in investment for new projects, a sign the country is intent on taking benefit of its massive mineral reserves despite US sanctions that have targeted its sale of lucrative metals.
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The Iranian Ministry of Industry, Mine and Trade plans to launch 200 major industrial, mining, and trade projects across the country by March 20, 2021.
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Twelve mining projects, worth over $1.1 billion, were handed over to the private sector in the year to March 19, Iran Minerals Production and Supply Company (IMPASCO) announced in a statement.
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