Minning

Iranian private investors have paid increasing attention to Iran's mining plans in recent months, suggesting an optimistic outlook for the country's mining industries within the close to future.

"Iran's private sector has invested a total of 11.3 billion rials ($ 95 million) since December 22, 2018, in mining projects and industries," says Deputy Minister of Industries, Khodadad Gharibpour, the News agency of Mehr reported on Sunday.

"This quantity of investment indicates a change in the amount of involvement of private investors in the development of Iran's mining industry," he said.

Gharibpour said that 20 billion rials ($168 million) in funds have reached mining projects during the period under review.

"In the current harsh conditions as a result of cruel sanctions, this large sum of investment made within this short amount of time [approximately eight and a half months] is a notable achievement and indicates the confidence of the private sector in policymakers in the mining industry and a positive conception facing mineral projects, "he added.

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