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exploration projects are facing serious challenges due to lack of budget

exploration projects are facing serious challenges due to lack of budget

The head of mineral and industrial association believes that exploration projects are facing serious challenges due to lack of budget

Furthermore, the geology and mineral agency has not been included as a part of country's annual budget. 
IRNA reported: according to Iranian mineral production company , Panahizadeh said " private sector is facing recourses loss in the mine exploration field and government as well as parliament should seek resolutions. 
According to the national development's fifth , the total number of mineral extractions should reach 570 million tons. He added "official reports show 68 various mineral materials exist in country and only about 25 of them are being extracted so far. 
Panahizadeh said "we are still having difficulty to export mineral raw materials due to lack of advanced technology". 
He prompted that Iran's architectural materials rank number one in the region. However, export of raw materials such as ornamental and decorative stones resulted in losing profits to foreign merchants. 
 
The head of Iran's mineral and industrial association said: the bank's high interest as high as 27-33 percent is preventing the investors to invest in the private sector. This has damaged the mining industry. He said that foreign banks offer low interest to investors as low as 0.5-2. Therefore, explorational activities in mineral division can continue by support of government and parliament. 
Iran's trade and mineral industry reported that last year it extracted 340 million tons of mineral materials and it's expected to have another 10 percent increase by end of this year. 
Panahizadeh said: the government's administration (ninth and tenth) has taken important steps in the mineral industry by creating a new law for mineral industry which is expected to pass this September. 
 
According to the published reports by the trade and mining industry, there are 4500 active mines throughout country

 
Publish date:1391/06/15

Nov 7, 2012 12:27
Number of visit : 530

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