All of the mining activities and mining industries in Iran are regulated by the Ministry of Industries Mine and Trade of Iran. This ministry is responsible for preparing policies, plants and technical-executive criteria
for the mine and mining industries sector.
Currently, 90% of the country’s mines are in state hands (predominantly through Iranian Mines and Mining Industries Development and Renovation Organization (IMIDRO)) but the government publicly stated in 2015 its intentions to further develop the sector through private and foreign investment.
In order to establish facilities for participation of private sector and foreign companies and upheaval in the mining sector, Iran’s mining law was amended recently and the main outcomes of it summarized as below :
- Guaranteeing proven mining reserves as acceptable security
- Increasing the term of exploitation from 6 years to 35 years by offering priority to owners of exploitation licenses which possess official and negotiable instruments or title deeds
- Encouraging and supporting the Ministry of Mines and Metals in the extraction and processing of minerals for export and generation of value added.
- Establishing a capital investment fund for mining activities in order to compensate all or a part of financial losses incurred by exploiters and extractors of minerals.
- Preventing the destruction and waste of mineral reserves