Economics
Iranian Mining Deals Constrained by Sanctions Peril
- Country seeking $50 billion of mining investment by 2022
- Projects valued at under $100 million each are going ahead
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Foreign companies have put on hold many mining agreements with Iran because of uncertainty over future sanctions, according to the deputy minister of Iran’s Ministry of Industries, Mines and Trade.
Smaller projects of less than $100 million each are going ahead, Mehdi Karbasian said Monday in an interview in Tehran. Iran is seeking $50 billion in foreign investment in the mining industry by 2022, he said.