NEWS
MINERALS   Industry   Investment  

10 investment holdings to be established in industry, mining sectors

Iran's Deputy Industry, Mining, and Trade Minister Saeed Zarandi announced the establishment of 10 investment holding companies in the industry and mining sectors in near future, IRIB reported on Monday.

Launching seven investment holdings in the industrial sector and three holdings in the mining sector is on the agenda and will be operational soon with legal considerations,” Zarandi said in a ceremony for the establishment of a public joint-stock company active in the mining and mineral industries sector.

As reported, the ceremony was held in the presence of representatives of large mineral and mining industry companies, as well as investment funds related to these companies.

Speaking in the ceremony, Zarandi said the investment is one of the main requirements of the country's mining sector today, adding: “In this regard, the capital market has provided the opportunity to form new investment holdings in the form of public joint-stock companies.”

“Directing the existing liquidity and the capital market resources toward the productive sectors of the country is a priority of the Ministry of Industry, Mining, and Trade,” he stressed.

According to the official, the Ministry of Industry, Mining and Trade has paid special attention to these resources both in the production sector and in the mining sector, and has proposed and presented specific programs in this regard since the end of the previous Iranian calendar year (March 19).

The deputy minister further stated that if the necessary preparations are done for the entry of 50 mining companies into the capital market in the current year, in practice, very important work has been done in this sector and it can be a prelude to planning for years to come.

Being among the world’s top mineral-rich countries, Iran has set a new target for further development of its mining sector as the country’s economy is moving away from oil toward becoming oil-independent.

In this regard, the government has urged the Industry, Mining and Trade Ministry to take necessary measures for supporting such mines to get back on their feet and start operating again.

The main solution that has been offered for the mining sector is for mines to enter the capital market and offer their shares to raise funds for developing projects and resuming their operations.

News No: 9985
Date: 2020/10/19 - 16:21
News Source: TehranTimes

Ministry of Industry  mining sector  Saeed Zarandi 

Comments:

Leave a Comment:

   
   
   
 

Annual automobile exports exceed $5.7m

Iran exported 1,300 automobiles valued at $5,722,007 in the previous Iranian calendar year (ended on March 19), the spokesman of the Islamic Republic of Iran Customs Administration (IRICA) said.
 

Industry Ministry to localize $8b of import items to realize “surge in production”

Strengthening domestic production has become a major focus of the Iranian government in the past few years, as the country is determined to nullify the U.S. sanction on its economy through boosting production to reach more and more self-reliance.
 

Nearly $770m of loans paid to industrial units in 6 months

Some 32.312 trillion rials (about $769.3 million) of loans has been paid to industrial units throughout the country during the first six months of the current Iranian calendar year (March 20-September 21), IRNA reported.
 

Tehran hosting MINEX 2020 exhibition

The 9th International Investment Opportunities in Iran’s Mines and Mining Industries Exhibition and Conference (MINEX 2020) and the 9th International Conference on Materials Engineering and Metallurgy (IMAT 2020) kicked off on Tuesday in Tehran.
 

Car manufacturing up over 23% in H1 on year

Car manufacturing in Iran rose 23.4 percent during the first six months of the current Iranian calendar year (March 20-September 21), compared to the same period of time in the past year, the data released by the Ministry of Industry, Mining, and Trade showed.
 

Iran’s Metal Exports Hit $8.4bln in 2019

Iran's metal exports have witnessed considerable growth over the last Iranian year (ended March 19, 2020) despite the maximum pressures exerted by the US and economic terrorism by that regime, reports said.
Upcoming Events
Publications
 Mines & Metals

Mine & Business Today

 Scrap & Recycling

Ahangan

Our partners