Iran needs to attract foreign investment in the mining sector to transfer the technological know-how vital to this field, an official said Sunday.
"Iran's share of world mineral production currently stands below 1.5 percent, while it should be between two and four percent," Deputy Minister for Mining Affairs Ja'far Sarqeini was quoted as saying by the official Iranian news agency, IRNA.
"From now on, Iran should focus on exporting minerals to be able to compete in the world markets," he said.
"Last (Iranian) year, some seven million tons of ores were produced in the country, four percent of which, valued at over $30 million, was exported abroad," he said, noting, "Iran can export $500 million worth of ores annually."
Serqeini said that foreign investment is needed to help Iran sell an annual $500 million worth of decorative stones.
In the meantime, Mohammad-Reza Bahraman, the head of Iran's Stone Association, said that "although over the past years prospecting has developed, we have yet to gain a suitable position in the world markets."
He said the association would devote its energies to the establishment of databanks, holding exhibitions in Iran and abroad, and the creation of research centers, according to the agency – Albawaba.com
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