Wednesday 25 April 2018

Iran inks $1bn deal to develop major zinc mine

TEHRAN, March 14, 2017

Iran has signed a $1-billion deal with a consortium of six private companies led by Iran's Mobin Mining and Construction Company, to develop Mahdiabad mine, one of the world's largest zinc deposits, said a report.

The mine is likely to go on stream in the next four years and produce 800,000 tons of zinc concentrate per annum, reported Iran Daily, citing the state-owned mines and metals holding company.

Iranian Mines and Mining Industries Development and Renovation Organization (Imidro) said Mobin was also in talks with Swiss and Spanish mining giants to set up joint ventures for developing the Mahdiabad mine.

As per the deal, the private consortium will run the mine for 25 years, though their contract could be extended, said the report.

On top of the targeted 800,000 tons of zinc concentrate, Mahdiabad is also expected to produce 80,000 tons of lead and silver concentrate a year, it added.

Tags: Iran |

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