Iran and Latin America Benefit Privileges of Mining Sector

Chairman of the board of IMIDRO suggested Iran and Latin American countries to benefit from privileges of mining sector in order to participate in domestic, regional and global market.

1st Iran and Latin America mining cooperation opportunities forum was held by IMIDRO in Tehran. It was attended by representatives of Mexico, Brazil, Cuba, Chile, Ecuador, Venezuela, Uruguay, Nicaragua and Bolivia and Foreign Affair’s Director General for the US Affairs.

Investment in mining sector of Iran will lead to production of high value added products due to using natural gas in steel production so that iron ore priced at $50 per tonne turns into steel priced at $400 per tonne, Mehdi Karbasian expressed

Regarding to existence of 68 types of minerals, abundant energy resources, access to high seas and 400- million customers market in the region both sides will benefited from investment in mine and mining industries in Iran, he continued.

One of the ways of cooperation between Iran and Latin American countries is participation in each other’s market and export of products to the other countries, Karbasian added.

Chairman of the board of IMIDRO stressed that our suggestion is activity in free and special economic zones as investors will benefit from tax exemption and several privileges.

According to Karbasian, most of the neighbor countries need to renovation and establishment of their infrastructures for development of mining industries and due to Iran’s security good opportunities for cooperation with Iran were prepared.

Steel, copper, aluminum and gold sectors have comprehensive plans and require $50 billion investment to achieve their macro measures Deputy Industry, Mine and Trade Minister said.

Mohammad Keshavarz zadeh, Director General for the US Affairs noted the policy of Islamic Republic of Iran and said: government will guarantee and support investment and tax exemption in line with development plans.

During the meeting, representatives of Brazil, Mexico, Cuba and Nicaragua welcomed the prepared situation for broaden cooperation with Iran and express their views in this regard.

source: imidro