The Deputy Mine, Industry and Trade Minister, Mehdi Karbasian (pictured), has said that Iran’s mining sector has now more than $10 billion of investment pledges by Europeans and Chinese firms.
Italy’s Danieli signed a joint venture agreement and agreed orders worth in total about 5.7 billion euros last week.
Italian and Chinese companies are also expected to carry out the second phase of Salco, Iran’s largest aluminum smelter.
The Chinese are expected to invest as much as 4 billion euros in Iran’s mining and mineral industry, Mehr News Agency reported.
France’s Fives Group also signed a deal to build an aluminum plant in Iran.
The country stands to make an estimated $700 billion off its vast deposits of minerals such as copper, iron ore, zinc and lead.
“They are an incredibly mineral-rich nation,” Rebecca Keller of Stratfor, told the Associated Press last week.
Iran has more than 3,000 active mines, mostly privately owned, that contain copper, iron ore and heavy rare earth elements, PressTV reports.