Interesting Facts About Mining in Iran
Iran is a country that has been blessed with oil, but that is not the only export that brings in foreign exchange. Iran also has other minerals too that reduce its dependence on oil as the main export. In regard to ranking Iran is among the top twenty mineral-rich countries in the world and this ranking is not based entirely on its rich oil and gas deposits. Iran is the world largest producer of Zinc, the ninth largest producers of iron and copper and when it comes to other minerals like copper, steel and aluminium Iran is ranked 12th, 14th and 17th respectively in the world.
The other amazing fact to highlight is that Iran also produces other metals like pigment and petroleum coke which are both value-added products used in the metal and mining industries. Apart from the main minerals the The country also produces rare earth elements, which are strategic materials.
An amazing fact to highlight is that Iran holds at least seven percent of the world’s total mineral reserves and even operates world-class open-pit mines in which one of the mines holds the second largest deposits of copper in the world. The mines that have state of the art open-pit mines include one that has 200 million tons of sulfur and oxide, another that has the biggest iron ore deposits in the middle east region and another mine than is clocking close to a millennium in extraction history.
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Mining is an important economic activity to Iranians and the government has been allocating 30% of all the local investments into mining. Due to this heavy investment, Iran has the right infrastructure in place to accelerate development as it has an efficient network of electricity and readily accessible gas lines. It is vital to note that the working environment has also been improved and is characterized by experienced workforce, low labor costs, access to regional and domestic transport systems and waterways, rich coal, gas and energy resources which all contribute to its low costs of mineral production. Other important changes are that the mining industry is supported by proper and favorable regulations that create special economic zones that encourage resource exploration and development. This puts Iran on the global map as one of the best countries for mining developments in the region.
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Besides the facts noted above it has been seen that since the implementation of the Joint Comprehensive Plan of Action Iran has beefed up its effort to create long-lasting ties with the international community of banks, investors, contractors and suppliers and financial institutions especially those related with foreign gas, oil and mining industries so as establish better ways to work together.