The government earned more than 4.72 trillion rials (over $109 million) in mining royalties–a percentage of miner’s sales profit–during the first seven months of the current Iranian year (March 21-Oct. 22).
This indicates a 215% upsurge compared to the earning in last year’s similar period, latest data released by the Ministry of Industries, Mining and Trade show. More than half of the royalties were collected from miners in Kerman Province, IRNA reported.
Iranian Deputy Industry Minister Mehdi Karbasian announced that during the past Iranian calendar Year 1396 (ended March 20, 2018) exports of domestic mining sector stood at $9 billion
At the 15th Exhibition and World Congress for Latin American Mining, Expomin 2018, Metso will be presenting a variety of product Industry 4.0 applications and tailored solutions to improve process and resource efficiency while reducing operational costs in mining operations.
Those worried that the positive momentum in the mining and metals sector is beginning to wane after two years of strong gains may find encouragement from a new survey by private capital tracker Preqin.
“The Mineral Resources Development Fund is a smart, strategic investment in the future of our industry,” said Sean Kirby, Executive Director of MANS. “The provincial government has made a series of important policy decisions in recent years that are helping our industry grow and create jobs for Nova Scotians.
The Ministry of Industries, Mining and Trade issued 937 permits for mineral exploration during the 10 months to Jan. 20, registering a 53% rise compared with last year’s corresponding period. Iran is home to around 10,000 mines, only 6,000 of which are operational.
At the behest of private producers and downstream users, the Ministry of Industries, Mining and Trade has banned price increases for all steel products at Iran Mercantile Exchange up until June 21.