IMIDRO to launch exploration of rare earth elements

IMIDRO to launch exploration of rare earth elements

Targeted exploration activities in new fields of strategic elements such as rare earth, antimony, chromium and titanium are part of this year plan of IMIDRO that have been launched in different areas and are underway, according to the deputy head of Iran’s Mines and Mining Industries Development and Renovation (IMIDRO) for development plans of mine and mining industries, Jamshid Mola-Rahman.

(IMIDRO) - Jamshid Mola-Rahman, in an interview with Mehr news agency, pointed to the supportive and expansionary measures and plans in this regard that comprise a vast field including exploration, mining investment insurance and supplying machineries.

Describing exploration as major need of development compared to economic development goals, he said considering the government economic policies, Ministry of Industry, Mine and Trade has placed rapid move in mining exploration in its agenda and has begun exploration activities in a vast area of the country through IMIDRO.

6 billion euro projects

According to Mola-Rahman, 41 mining projects with investment of 6 billion euro are underway at the moment and increasing gold output capacity to 6 tons would be one of their results.

He also said that in addition to exploration activities in more than 50 projects in 31 mining sites and 11 mines, IMIDRO has been planning exploration in 14 areas of 200,000 kilometers vast. It would be for the first time that scale of exploration activity extends from tens of square kilometers to hundred thousand.

Mola-Rahman cited accepting potential risk of exploration from mining insurance fund and allocating significant finance and providing exploration facilities as other plans that are underway.

Pointing to implementation of mining development projects, he underlined that implementing 41 projects with an investment of about 6 billion euro and creating 25000 direct jobs with participation of private sector is being planned and with implementation of this projects, fine iron ore production capacity would reach to 17.5 million tons, iron ore concentrate to 66 million tons, pellet to 63 million tons and coal to 5 million tons.

In regard of gold production, he explained that with envisaged plans for mining development, gold output would reach to 6 tons while zinc concentrates and ingot would increase to 100,000 tons, titanium pigment to 50,000 tons and coking coal to 4300 tons.

With more than 5000 operating mines and 43 billion tons of mineral reserves along with huge reserves of oil and natural gas and other advantages like abundant labor and access to free water, these resources can have critical role in sustainable development and economic prosperity.